An Advantage of CAD (Computer Aided Design)and CAM (Computer Assisted

question 53

Multiple Choice

An advantage of CAD (Computer Aided Design) and CAM (Computer Assisted Manufacturing) to manufacturers is it ________.

• A) provides custom-designed products without incurring higher costs
• B) replaces the need for human labor by using robots
• C) reduces the costs of materials needed to be kept in the inventory
• D) is less complicated to operate than other manufacturing software
• E) requires little time and investment to set up and learn the necessary software

Understand the concept of international business arbitration.

Recognize the importance of ethics in decision-making within organizations.

Identify the characteristics and implications of supranational laws on member states.

Understand the impact of government control over resources on property rights.

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Definitions:

Collateral

An asset that a borrower offers to a lender as a security for a loan, which can be seized if the loan is not repaid.

Savings Deposits

Bank accounts that pay interest on the money deposited, meant for saving rather than daily transactions.

Capital Formation

The process of building up a country's stock of real capital, such as buildings, machinery, and equipment, which is used for production.

Economy

The system of production, distribution, and consumption of goods and services within a society.