When a New Production Technology Is Invented That Results in Production

question 4

Multiple Choice

When a new production technology is invented that results in production of smaller amounts of residuals per unit of output produced, this is called reducing the ________.

• A) damages from production
• B) intensity of pollution
• C) residuals from production
• D) residuals intensity of production

---

Definitions:

Corruption

The abuse of entrusted power for private gain, manifesting in various forms such as bribery, embezzlement, and nepotism, negatively affecting the efficiency and fairness of public and private sectors.

Economic Espionage

The illegal and covert activity of obtaining confidential economic information or trade secrets from competitors for competitive advantage.

Kickbacks

Illegal or unethical payments made in return for favors or services in business transactions, often seen as a form of bribery.

Utilitarianism

A personal moral philosophy that focuses on “the greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior.