Manufacturing Environment Automation Is Associated with Increases in

question 11

Multiple Choice

Manufacturing environment automation is associated with increases in

• A)inventory.
• B)productive capacity.
• C)processing time.
• D)none of these.

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Definitions:

Total Product

The aggregate amount of goods or services generated by a business given a specific amount of resources.

Diminishing Rate

A principle stating that if one factor of production is increased while others are held constant, the incremental gains in output will eventually decrease.

Long Run

Refers to a period in economics where all factors of production can be adjusted, and all costs are variable, allowing for complete industry adjustment.

Renovate

The process of restoring or improving a building, room, or structure to make it more attractive, functional, or to bring it up to current standards.