When an Automobile Manufacturer Learned That It Took Longer Than

question 43

Multiple Choice

When an automobile manufacturer learned that it took longer than any other manufacturer to assemble a vehicle, it purchased newer, more flexible manufacturing systems to replace its older ones. Which stage of the technology cycle is illustrated in the scenario?

• A)Technological adaptation
• B)The era of dominant design
• C)The technological growth stage
• D)Entropy
• E)Discontinuous change

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Definitions:

Pension Plan

A pension plan is a retirement plan that requires an employer to make contributions into a pool of funds set aside for a worker's future benefit. The funds are invested on the employee's behalf, and the earnings on the investments generate income to the worker upon retirement.

Retirement Age

The age at which a person is eligible to retire and receive full pension benefits, typically set by government policies or employment agreements.

Cafeteria-Style Plans

Employee benefit plans that allow workers to choose from a variety of pre-tax benefits, tailoring their benefits package to their specific needs.

Unemployment Insurance Tax

A tax collected by the federal and state governments from employers to fund unemployment benefits for workers who have lost their jobs.