When Market Prices Do Not Reflect True Production Costs, It

question 194

Multiple Choice

When market prices do not reflect true production costs, it could indicate

• A)resources in an economy are not fully utilised.
• B)the market price of a product is above the average cost of production.
• C)there is only a handful of firms competing against each other in an industry.
• D)a market failure.

Recognize the key geometric characteristics such as squareness, roundness, and flatness.

Apply knowledge of geometric tolerancing to state functional requirements of parts.

Identify and interpret geometric characteristic symbols for various tolerance types.

Understand the concept of geometric dimensioning and tolerancing symbols.