The Concept of Interchangeable Parts Was Introduced by ___________________

question 111

Multiple Choice

The concept of interchangeable parts was introduced by ___________________.

• A) Adam Smith
• B) Frederick Taylor
• C) Eli Whitney
• D) Henry Ford
• E) W. Edwards Deming

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Definitions:

Capital Intensive

A description of industries or businesses that require large investments in capital assets to produce goods or services.

Variable Cost

Costs that change in proportion to the level of production or activity within a company.

Long Run

A time period in economics during which all inputs or factors of production can be varied, and no costs are fixed.

Expenditures

Money spent on goods, services, or other expenses by individuals, businesses, or governments.