Section 1

What is one of the main advantages of using automation in manufacturing?

• Increased efficiency and speed of production

• Increased human labor costs

• Decreased production speed

• Inconsistent output

Which of the following is a disadvantage of using robots in manufacturing?

• Reduced labor costs

• Ability to work 24/7

• Replaces workforce leading to some job losses

• Accurate and consistent output

In which environments are robots commonly used?

• Environments with low temperatures

• Environments with high temperatures or harmful vapors

• Environments with no hazards

• Environments with minimal human interaction

What is one of the factors that make the production of circuit boards suitable for automated assembly line manufacture?

• Complex and varied designs

• Precision is required and must be maintained

• High human input

• Inconsistent product quality

What is the primary goal of an enterprise?

• To identify a business opportunity and make it commercially successful

• To create a non-profit organization

• To provide free services to the community

• To invest in real estate

What is the legal process of proving the creator is the first person to have registered an idea or invention?

• Copyright

• Trademark

• Patent

• Licensing

What is crowd funding?

• The use of large amounts of capital from a few investors to finance a new business venture

• The use of small amounts of capital from many individuals to finance a new business venture

• The use of government grants to finance a new business venture

• The use of bank loans to finance a new business venture

What is one of the main advantages of virtual marketing?

• It relies on print advertising

• It is difficult to measure its effect

• It can reach a wider audience more easily

• It does not include paid-for advertisements

What is a cooperative?

• A business owned by a single individual

• An enterprise owned and run by its members

• A government-owned enterprise

• A non-profit organization

What does fair trade aim to achieve?

• Lower prices for consumers

• Better prices and working conditions for farmers and workers in less economically developed countries

• Higher profits for multinational corporations

• Increased tariffs on imported goods