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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does high initial investment refer to?
💡 Hint: Think about the costs involved when starting automation.
Question 2
Easy
Why might small businesses struggle with high initial investments?
💡 Hint: Consider what resources smaller companies generally have.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
High initial investment refers to the:
- Low costs of automation
- Large upfront costs
- Ongoing expenses
💡 Hint: Think about the setup phase of automation.
Question 2
True or False: Small businesses generally find it easier to manage high initial investments.
- True
- False
💡 Hint: Consider the financial capacity of smaller companies.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A small manufacturing firm has to decide whether to invest in a new automated production line. The initial cost is $500,000. They expect average annual savings of $150,000. How many years will it take to recover the investment?
💡 Hint: Consider how to calculate the return on the investment over time.
Question 2
Discuss how an initial investment in automation might reflect on an entire industry’s competitiveness in a global market.
💡 Hint: Think about scaling and operational advantages as reasons to invest.
Challenge and get performance evaluation