Firms Will Only Adopt More Automated Methods of Production When

question 47

Multiple Choice

Firms will only adopt more automated methods of production when

• A) they reduce the need for workers.
• B) they lower production costs.
• C) they lengthen the production process.
• D) other firms in the industry are doing it.

---

Definitions:

Secured Party

An entity or individual that holds an interest in a debtor's property as security for a debt or obligation, ensuring priority claim over the property if the debt is not repaid.

Proceeds

The money or benefits received from a transaction, especially after the sale of assets or completion of a financial operation.

Secured Perfected Creditor

A lender that has a legal right to take possession of the collateral if the borrower fails to fulfill the repayment obligations.

Collateral

Property or assets pledged as security for the repayment of a loan, subject to seizure on default.