The Rise of the Industrial Factory System Deeply Affected the Lives

question 52

Multiple Choice

The rise of the industrial factory system deeply affected the lives and status of workers who now

• A)were often paid in kind.
• B)no longer owned the means of economic production and could only sell their labor for a wage.
• C)were less vulnerable to more rapid cycles of economic boom and bust.
• D)got both good wages and many fringe benefits unknown before.
• E)became serfs, legally tied to factories.

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Definitions:

Costs

The amount of money required to produce, maintain, or acquire a product or service, including direct, indirect, fixed, and variable components.

Risk and Return

The principle that potential return on an investment is correlated with the level of risk involved in making that investment.

Financial Decisions

Choices made by individuals or businesses regarding the management of finances, including investments, budgeting, and financial planning.

Trade-off

The act of giving up one benefit in order to gain another, often considered in decision-making processes.