The Gage System of Calling Out the Thickness of a Material

question 27

Multiple Choice

The gage system of calling out the thickness of a material is being phased out because:

• A)It is out-of-date.
• B)It is difficult to learn
• C) It is inaccurate.
• D) none of the above

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Definitions:

Profit Income

The financial gain that results when the revenue from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Market System

In this economic framework, the determination of investment, production, and distribution is influenced by the market signals emanating from the interplay of supply and demand.

Economic System

The mechanism or set of processes by which a society organizes and distributes its resources, goods, and services.

Factors Of Production

The four economic resources: land, labor, capital, and entrepreneurial ability.