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Identify and State the Historical Significance of the Following

question 102

Short Answer

Identify and state the historical significance of the following:
-Fordism


Definitions:

Low-Cost Leadership

A business strategy where a company offers products or services at the lowest possible price, aiming to capture market share based on price competitiveness.

Plastic Shopping Bags

Lightweight bags made of plastic, typically provided by retailers for carrying purchases, facing increasing regulation due to environmental concerns.

Background Music

Music played in the background intended not to be actively listened to, enhancing the mood or atmosphere of a location like a restaurant or retail store.

Standardization

The process of developing and implementing technical standards to maximize compatibility, safety, repeatability, or quality.

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