From 1944 to 2001,the Number of Workers Employed in Manufacturing

question 94

Multiple Choice

From 1944 to 2001,the number of workers employed in manufacturing in the United States

• A)fell from about 38 percent to about 12 percent.
• B)remained fairly steady at around 24 percent.
• C)plummeted from over 75 percent to less than 5 percent.
• D)slightly increased from roughly 17 percent to 19 percent.

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Definitions:

Power Shift

A significant change in the balance of power within an industry, market, or between nations, often due to technological innovation, market forces, or sociopolitical changes.

Buying Power

Represents the capacity of an individual or group to purchase goods and services, influenced by income levels, inflation, and market conditions.

Pricing Infatuation

An obsession or excessive focus on the pricing aspect of a product or service rather than its value or other attributes.

Price Cutting

A competitive strategy whereby a company lowers its product prices to attract customers and increase market share.