Long- Linked Technology Is Characterized by All of the Following

question 42

Multiple Choice

Long- linked technology is characterized by all of the following except ______________.

• A)increased production efficiency
• B)reciprocal interdependence
• C)standardization
• D)low- skilled workers

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Definitions:

Consumer Sovereignty

The idea that what consumers want influences the goods and services produced in an economy.

Conform To Consumer Demands

Adjusting product offerings, services, or business practices to meet the expectations and preferences of consumers.

Economically Efficient

A state where resources are allocated in a way that maximizes the net benefit to society, with no waste.

Total Costs

Represents the complete expenditures incurred by a firm or an individual in the production or purchase of goods and services.