In economics,the practical application of an invention is known as
A)technology.
B)entrepreneurship.
C)physical capital.
D)innovation.

Question

Quizplus · Accepted Answer

Innovation refers to the practical application of an invention, which can lead to the creation of new products or processes that can improve the efficiency of production or the quality of goods and services. Innovation is often associated with entrepreneurship, as entrepreneurs are typically the ones who identify new opportunities and use innovative solutions to exploit them. Technology and physical capital are important factors in the innovation process, but they are not the same as innovation itself.

In Economics,the Practical Application of an Invention Is Known as