The Use of Technology for Training Is Becoming More Popular

question 28

True/False

The use of technology for training is becoming more popular in both Canada and the United States, albeit it is doing so at a relatively slow rate.

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Definitions:

Long-Run Time Period

A duration in economics where all factors of production and costs are variable, allowing for complete adjustment.

Economies Of Scale

The economical benefits that businesses gain from their operation size, typically resulting in lower costs per unit of output as the scale expands.

Specialization

The process of focusing efforts and resources on a limited number of activities to increase efficiency and productivity.

Fixed Input

A resource in the production process whose quantity cannot easily be changed in the short term, such as buildings and machinery.