Hjordis Marika Took a Call from a Client

question 22

Multiple Choice

Hjordis Marika took a call from a client."Hjordis,I need to interact online in real time with our affiliate in India,and I want to make sure that our communications aren't intercepted.What do you suggest?" Hjordis responded,"The best solution is to implement

• A) a virtual private network."
• B) multifactor authentication."
• C) a private cloud environment."
• D) an asymmetric encryption system with digital signatures."

Distinguish between economic costs, total revenue, and profit in business operation contexts.

Apply the concept of average and marginal product to analyze production levels.

Understand the impact of educational or technological advancements on labor productivity and firm's production technology.

Understand the concept of labor and capital intensity in production technologies.

---

Definitions:

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, leading to significant changes in technology, economy, and society.

Modern Factory System

An approach to manufacturing that involves large-scale, mechanized production methods, often under one roof or within one facility, leading to the increased efficiency and production output.

Marginalism

An economic principle that deals with the additional or marginal changes in costs and benefits for a unit increase or decrease in production or consumption.

Scarce Resources

Natural or human-made assets that have limited availability, which makes the allocation of these resources a fundamental economic challenge due to competing needs and desires.