Which One of the Following Technologies Is Used ONLY for Material

question 177

Multiple Choice

Which one of the following technologies is used ONLY for material handling, NOT actual production or assembly?

• A) robots
• B) CNC
• C) CAD
• D) AGVs
• E) FMS

Analyze the effects of resource reallocation on production possibilities.

Appreciate the role of economists in supporting free trade and understanding economic indicators.

Understand the components and structure of the circular-flow diagram.

Identify and differentiate between factor and product markets.

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Definitions:

Efficient Amount

The quantity of a good or service that maximizes social welfare, taking into account all costs and benefits.

Free-rider Problem

A situation in which individuals or entities benefit from resources, goods, or services without paying for them, leading to underprovision of those goods.

Public Good

A product or service that is available for all to consume, regardless of who pays for it, characterized by non-excludability and non-rivalry.

Public Good

Goods or services made available to all individuals within a society free of charge, supplied by the government or by private non-profit entities.