In the Context of the History of American Business, Which

question 79

Multiple Choice

In the context of the history of American business, which of the following statements is true of the production era?

• A) Major businesses focused on shifting the balance of power from producers and toward consumers.
• B) The method of hard sell was eliminated.
• C) The assembly line became standard across major manufacturing industries.
• D) Leading-edge firms looked beyond each immediate transaction with a customer and aimed at building a long-term relationship.

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Definitions:

Primary Data

Data that is collected firsthand for a specific research purpose, through methods like surveys or experiments.

External Data

Information sourced from outside the organization, used for analysis, benchmarking, or decision-making processes.

Mass Customization

A production technique that allows for personalization or tailoring of products to individual customers' preferences while maintaining the efficiency of mass production.

80/20 Principle

Also known as the Pareto Principle, it suggests that 80% of effects come from 20% of causes, commonly applied in business and productivity analysis.