Service Factories Place Greater Emphasis on Cost Efficiency Than Professional

question 83

True/False

Service factories place greater emphasis on cost efficiency than professional services.

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Definitions:

Economic System

An organized way in which a state or nation allocates its resources and apportions goods and services in the national community.

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, income, employment, and other indicators.

Investment

The allocation of resources, such as capital or time, into something with the expectation of generating income or profit in the future.

Consumption

The action of using goods and services for personal needs or wants.