Which of the Following Did Not Occur During the Industrial

question 171

Multiple Choice

Which of the following did not occur during the Industrial Revolution?

• A)Production became more reliant on highly specialized equipment.
• B)A more efficient division of labor was promoted.
• C)Workers bore much of the costs of production.
• D)The transaction costs of contracting with individual resource owners were reduced.
• E)Technological development increased the productivity of most workers.

Analyze the effects of material and anticipatory breaches on contractual obligations.

Discern between different standards (subjective, objective) for contract satisfaction and their legal implications.

Recognize the role of mutual agreement (accord and satisfaction, novation, mutual rescission) in modifying or discharging contracts.

Identify various types of legal and equitable damages and remedies available in contract law.

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Definitions:

Incremental Analysis

The process of evaluating the financial consequences of making changes in business activities, by focusing on the costs and benefits that will change as a result.

Accumulated Depreciation

The total depreciation for a fixed asset that has been charged to expense since that asset was acquired and made available for use.

Manufacture Further

The process of additional or continued production to create finished goods from raw materials or components.

Inventory Cost

The total cost associated with acquiring, storing, and managing inventory, including purchase prices, delivery charges, and taxes.