At the Start of the Twentieth Century Henry Ford Was

question 10

Multiple Choice

At the start of the twentieth century Henry Ford was so worried about attracting a stable workforce for his automobile plants that he offered

• A) a five-dollar-per-day minimum wage
• B) free childcare in factories
• C) increased opportunities for job promotions
• D) opportunities for women to work alongside men in his plants

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Definitions:

Modern Factory System

An approach to manufacturing that involves large-scale, mechanized production methods, often under one roof or within one facility, leading to the increased efficiency and production output.

Marginalism

An economic principle that deals with the additional or marginal changes in costs and benefits for a unit increase or decrease in production or consumption.

Scarce Resources

Natural or human-made assets that have limited availability, which makes the allocation of these resources a fundamental economic challenge due to competing needs and desires.

Additional Costs

Expenses that are not initially projected or expected in the budget.