According to Perrow's Approach to Classifying Technology, an Electrical Utility

question 40

Multiple Choice

According to Perrow's approach to classifying technology, an electrical utility or a plant that manufactures washing machines is an example of what type of technology?

• A) routine
• B) nonroutine
• C) mediating
• D) focused low-cost

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Definitions:

Nominal Income

Income figures that have not been adjusted for inflation, representing the amount of money earned in current dollars.

Quantity Demanded

The combined measure of a good or service that purchasers are eager and able to acquire at a predetermined price.

Buyer's Preferences

The individual tastes or desires that influence a consumer's purchasing decisions and the allocation of their budget across various goods and services.

Rational Consumer

An economic concept of a consumer who consistently seeks to maximize utility or satisfaction from goods and services within their budget constraint.