Urbanization Brought About Sweeping Changes to the System of Production

question 66

True/False

Urbanization brought about sweeping changes to the system of production and distribution of goods and services.In postindustrial economies,work becomes specialized and repetitive,activities become bureaucratically organized,and workers primarily worked with machines instead of with one another.

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Definitions:

Sufficient Cash

Having enough liquid assets to cover operational expenses and financial obligations.

Target Market

A specific group of consumers identified as the recipients of a particular product or service, characterized by their unique needs and preferences.

Economy Of Scale

The cost advantage achieved by an increase in production, resulting in the reduction of costs per unit due to factors like operational efficiency.

Production Quantities

The amount of product that is produced within a specific period.