The Development of What Technology Both Enabled, and Was Driven

question 41

Multiple Choice

The development of what technology both enabled, and was driven by, the Industrial Revolution?

• A) democratization
• B) agriculture
• C) mechanization
• D) transportation

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Definitions:

Liability

A financial obligation or responsibility that an individual or entity owes to another, which is required to be settled in the future.

Required Reserve Ratio

The fraction of deposits that banks are required to hold in reserve and not lend out.

Checkable Deposits

Bank account balances that can be easily withdrawn or used for payments through checks, debit cards, or electronic transfers.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over others.