Which of the Following Statements Is Most Likely to Be

question 80

Multiple Choice

Which of the following statements is most likely to be true regarding a process that has a high technical complexity?

• A) Such processes rely more on human skills and less on machines.
• B) In such a process, work activities cannot be programmed in advance.
• C) Outputs that result from such processes can be predicted accurately.
• D) Such processes are very costly and they cannot be changed once established.

Comprehend how small businesses impact the U.S. economy.

Identify reasons for business failures and successes.

Gain insight into the structure and benefits of different business ownership types, including sole proprietorships, partnerships, and corporations.

Understand the significance of franchises in the business world and the relationship between franchisors and franchisees.

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Definitions:

Import Substitution

A policy aimed at encouraging domestic production of goods that were previously imported.

Labor-intensive Production

A production process that relies more heavily on human labor than on technology or machinery, often characteristic of industries that require skilled workers.

Human Capital Shortages

A situation where there is a lack of adequately skilled or qualified individuals in the workforce to meet the demands of the job market.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured as a percentage increase in real gross domestic product (GDP).