As Technology Has Advanced,most Manufacturing Firms Have Become Much More

question 18

True/False

As technology has advanced,most manufacturing firms have become much more generalized.

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Definitions:

Increasing Returns

A concept in economics where an increase in the scale of production leads to a greater than proportional increase in output.

Copper Mines

Sites or locations where copper ore is extracted from the earth for commercial value and industrial use.

Global Recession

A period of worldwide economic decline characterized by reduced industrial production, trade, and consumer spending.

Constant Returns

A situation in production where increasing all inputs by a certain proportion results in an increase in outputs by the same proportion.