_____________ consists of the social and managerial processes through which solutions are first translated into social use in a given culture
a. Innovation
b. Invention
c. Diffusion
d. Intellect
A
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If there is an increase in the demand for U.S. automobiles, the
A) demand for dollars will fall. B) demand for dollars will rise. C) supply of dollars will fall. D) supply of dollars will rise.
In long-run equilibrium under perfect competition,
A. the firm and the industry will have the same cost curves. B. only a very few firms will be earning economic profits. C. the demand curves facing individual firms will fall to the level of minimum AC. D. individual firms will tend to increase their outputs.
Developing countries do:
A. compete with one another for foreign investment, and this competition reduces the benefits from foreign investment. B. not compete with one another for foreign investment, because they have sufficient domestic saving to finance their investment needs. C. not compete with one another for foreign investment, because they lack the infrastructure to attract it in the first place. D. compete with one another for foreign investment, but this competition is beneficial to developing countries because it insures a more efficient allocation of resources.
Direct subsidies to agriculture, whether they are export subsidies or production subsides, are viewed as harmful because of all the following reasons EXCEPT
A) they lead to overproduction. B) they crowd out imports. C) they can lead to dumping of surplus production. D) they encourage overconsumption through low market prices.