Who Invented the Assembly Line

question 112

Multiple Choice

Who invented the assembly line?

• A) Frederick Winslow Taylor
• B) Ransom
• C) Elton Mayo
• D) Henry Ford
• E) Olds

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Definitions:

Oligopolist

A market participant in an oligopoly, a market structure dominated by a small number of large firms, influencing pricing and competition.

Cartel

An association of independent businesses organized to control production, pricing, and marketing of goods to limit competition.

Competitors

Entities or firms in the same industry or market that offer similar goods or services to consumers.

Herfindahl-Hirschman Index

A measure of market concentration used to determine the level of competition within an industry, calculated by summing the squares of the market shares of each firm within the sector.