In Manufacturing, One Way to Compete with Cheap Labor Is

question 37

Multiple Choice

In manufacturing, one way to compete with cheap labor is to

• A) use robots.
• B) hire experienced people.
• C) make the production line longer.
• D) increase inputs to the system.

Recognize and describe the importance of venue and standing in legal proceedings.

Comprehend the procedural aspects of litigation, including pleadings, motions, and discovery.

Understand the concepts of minimum contacts and long-arm statutes in establishing personal jurisdiction.

Distinguish between original and appellate jurisdiction.

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Definitions:

Manufacturers

Manufacturers are entities engaged in the industrial production of goods from raw materials through the use of machinery and labor.

Market

A place or mechanism where buyers and sellers converge to trade goods, services, or resources.

Production Possibility Frontier

A curve representing the maximum combinations of goods or services that can be produced with limited resources.

Bowed Out

A description usually of production possibilities frontier that shows increasing opportunity costs.