All the New Technologies in the Workplace Substitute Human Labor

question 79

True/False

All the new technologies in the workplace substitute human labor for machinery in transforming inputs to outputs.

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Definitions:

Service Departments

Units within an organization that provide support to the profit-making departments, rather than directly contributing to profits.

Profit Margin

represents the percentage of revenue that remains as profit after all operating expenses, taxes, and costs have been deducted from total sales.

Investment Turnover

A ratio that measures how effectively a company generates sales or revenue from its investment in assets.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment relative to its cost.