Which of the Following Did Not Occur During the Industrial

question 171

Multiple Choice

Which of the following did not occur during the Industrial Revolution?

• A)Production became more reliant on highly specialized equipment.
• B)A more efficient division of labor was promoted.
• C)Workers bore much of the costs of production.
• D)The transaction costs of contracting with individual resource owners were reduced.
• E)Technological development increased the productivity of most workers.

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Definitions:

Agency Theory

A theory explaining the relationship between principals, such as shareholders, and agents, such as company executives, and how to best align the interests of both parties.

Owners

The individuals or entities that legally possess an asset or property.

Agents

Individuals or entities authorized to act on behalf of others in financial transactions or negotiations.