The term for the application of verifiable explanations of observed natural phenomena to produce useful products or processes is "technology."
Here's why:
1. Technology involves the practical application of scientific knowledge to solve real-world problems and improve human life.
2. It includes tools, systems, methods, and processes used in various industries like healthcare, communication, transportation, and more.
3. Technological advancements result from scientific discoveries and engineering innovations working together to create new products or improve existing ones.
In the given options, "technology" best fits the description provided.