Which of the Following Is NOT True with Regard to the Serial

question 83

Multiple Choice

Which of the following is NOT true with regard to the serial approach in a large-scale production project?

• A)It is slow.
• B)It is costly.
• C)Is used in designing for recycling.
• D)It may require frequent engineering changes.

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Definitions:

Adam Smith

Was an 18th-century Scottish economist and philosopher, known as the "father of modern economics" for his influential work on the nature and causes of the wealth of nations.

Economies of Scale

Cost advantages that enterprises obtain due to scale of operation, with cost per unit of output decreasing with increasing scale.

Marginal Output

Refers to the additional output that results from using one more unit of a production input, such as labor or capital, in the production process.

Total Output

The total quantity of goods and services produced in an economy during a given period.