Refrigerators, Ovens, Washers, and Dryers Built Since 2000 Are Expected

question 54

Multiple Choice

Refrigerators, ovens, washers, and dryers built since 2000 are expected to last 8-12 years, while those built in the 1970s and 1980s lasted 20 years or more. This shift in product life is an example of

• A)mechanization.
• B)rationalization.
• C)planned obsolescence.
• D)a tipping point.

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Definitions:

Total Assets

The sum of all resources owned by a company, measurable in monetary terms, and listed on the balance sheet.

Net Income

The amount of earnings remaining after all expenses, including taxes and interest, have been deducted from total revenue; also known as net profit.

Interest Expense

The expense a business or individual faces for using borrowed capital during a certain timeframe.

Income Tax

Income Tax is a tax levied by governments on individuals or entities based on their net income or profit.