A Critical Feature of the Second Industrial Revolution Was

question 76

Multiple Choice

A critical feature of the second industrial revolution was

• A)the discovery and exploitation of new coal deposits.
• B)the development of new technologies such as electricity.
• C)agricultural prosperity.
• D)that it occurred during a period of general economic boom.
• E)that it occurred during a period of recession.

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Definitions:

Fixed Operating Costs

Expenses that do not change with the volume of production, such as salaries and rent.

Variable Costs

Expenses that vary directly with the level of production or sales volume, such as raw materials and direct labor costs.

Breakeven Volume

The quantity of goods or services that must be sold to cover fixed and variable costs, resulting in no profit or loss.

Units

A measure of quantity or amount used in the context of production, inventory, or sales within various sectors.