The Goal Achieved by Using Mass Production Is to ________

question 7

Multiple Choice

The goal achieved by using mass production is to ________.

• A)produce goods of the highest possible quality
• B)replace all employee jobs with speedier machines
• C)provide the maximum flexibility in production
• D)produce large quantities goods at a low cost

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Definitions:

Transfer Payments

Payments made by governments to individuals without requiring any goods or services in return, such as welfare or social security.

Goods and Services

The output of an economy's business activities, encompassing tangible products (goods) and intangible offerings (services).

Progressivity

Refers to the degree to which a tax system taxes higher incomes at higher rates.

OECD Countries

Member countries of the Organisation for Economic Co-operation and Development, which are generally regarded as developed countries with high-income economies.