In the Early 1920s,Ford Promised Its Customers Any Color Vehicle

question 76

True/False

In the early 1920s,Ford promised its customers any color vehicle they wanted as long as it was black.Ford's management assumed anyone buying a car would accept the color black,so it made products affordable by offering only one variety in large quantities.Ford is an example of a market-oriented firm.

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Definitions:

Positive Illusion

A cognitive bias that causes an individual to view themselves, their situation, or the future more favorably than reality may justify.

Unfounded Attitude

An opinion or perspective that is not based on evidence or experience.

Class

A group of students who are taught together in school or a categorization based on shared characteristics or attributes.

Cognitive Dissonance

The mental discomfort or psychological stress experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.