As a Result of Economic Interaction

question 44

Multiple Choice

As a result of economic interaction,

• A)the number of available choices is reduced.
• B)scarcity is increased.
• C)opportunity costs increase.
• D)people are able to specialize.
• E)scarcity is eliminated.

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Definitions:

Assembly Line

An assembly line is a manufacturing process wherein parts are added to a product in a sequential manner to create a finished product efficiently.

Production Technology

The methods, equipment, and techniques used in the production of goods and services, including advancements that can impact efficiency and output.

Flextime

A flexible work schedule that allows employees to alter their start and end times, offering a better work-life balance.

Work Schedules

The planned hours and days that employees are expected to work, including shifts, rotations, and flex-time arrangements.