The Most Crucial Technological Breakthrough of the Early Industrial Era

question 66

True/False

The most crucial technological breakthrough of the early industrial era was the development of a general-purpose steam engine in 1765 by James Watt.

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Definitions:

Variable Overhead

Costs that vary with production levels, such as utilities or materials, which do not remain fixed over time.

Direct Labor

The cost of labor that is directly involved in the production of goods, easily traceable to a product.

Direct Materials

The raw materials that can be directly attributed to the production of specific goods or services.

Incremental Revenues

The additional income generated from a new product or service or as a result of making changes to an existing operation.