According to Your Text, Technology Has

question 8

Multiple Choice

According to your text, technology has

• A)created a greater demand for semi-skilled workers.
• B)created a greater need for American workers in manufacturing industry.
• C)led to outsourcing of jobs in information technology.
• D)reduced the split labor market.

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Definitions:

Demand Schedule

A diagram indicating the volume of goods or services that consumers can and will buy at assorted prices.

Marginal Cost

The investment needed to make an extra unit of a good or service.

Average Cost

A measure of the total cost of production divided by the number of units produced, used to calculate the cost per unit.

Industry Demand

The total demand for the products or services provided by a specific industry, represented as the sum of individual demands within a market.