During the Production Era, Companies Continued to Implement New Technologies

question 117

Multiple Choice

During the production era, companies continued to implement new technologies to streamline production processes. Although there were many changes, what did the primary focus result in?

• A) marketing, consumer orientation, and specializations
• B) competition, marketing, and refinement
• C) specializations, efficiencies, and refinement
• D) refinement, efficiencies, and entrepreneurship

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Definitions:

Sulfur Dioxide

A colorless gas with a sharp smell, produced by burning fossil fuels and volcanic eruptions, often associated with air pollution and acid rain.

Marginal Social Cost

The total cost to society of producing one additional unit of a good or service, including both the private costs and any external costs.

Pigouvian Taxes

Taxes designed to reduce external costs.

External Costs

costs inflicted upon a third party when goods and services are produced and consumed.