Which of the Following Statements Regarding Production Operations Is Accurate

question 158

Multiple Choice

Which of the following statements regarding production operations is accurate?

• A) The first industrial revolution occurred in England in the 1800s and the second in China during the 1990s.
• B) The factory is no longer the centrepiece for manufacturing.
• C) The development of 3-D printing illustrates the third industrial revolution.
• D) Production operations remain environmentally unfriendly.
• E) All of these statements are true.

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Definitions:

Public Safety

Efforts and services provided by the state or communities to ensure the protection and well-being of the public, including policing, firefighting, and emergency medical services.

Private Market

A sector of the economy where transactions occur between private entities without significant government intervention, dealing in goods, services, and financial assets.

Rival in Consumption

A property of a good whereby one person's use of the good reduces the ability of another person to use the same good.

Individual Marginal Benefit

The additional satisfaction or utility that an individual derives from consuming one more unit of a good or service.