Henry Ford's Development of an Assembly Method for Building Cars

question 39

Multiple Choice

Henry Ford's development of an assembly method for building cars and trucks would be an example of

• A) product improvement.
• B) fast-second strategy.
• C) process innovation.
• D) inverted-U theory.

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Definitions:

CVP Analysis

Cost-Volume-Profit Analysis, a tool that helps managers understand the relationship between cost, volume, and profit by identifying the break-even point or targeted profit output.

Breakeven Chart

A graphical representation that shows when total cost and total revenue are expected to be equal, indicating no net loss or gain.

Cost-Volume-Profit

Analysis that examines the effects of changes in costs and volume on a company's profit.

High-Low Method

An accounting technique used to estimate the fixed and variable costs associated with producing goods or services by analyzing the highest and lowest levels of activity.