In the Early 20th Century, Automobiles Were Made One at a Time

question 31

Multiple Choice

In the early 20th century, automobiles were made one at a time by craftsmen who could perform every operation necessary to build the car. Henry Ford decided to limit the number of tasks each worker performed so each person could become expert in his position. With this practice, Ford introduced ________.

• A) departmentalization
• B) work specialization
• C) centralization
• D) formalization

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Definitions:

Municipal Bond

A debt security issued by municipalities to finance their capital expenditures, typically tax-exempt for investors.

Government Bonds

Securities issued by a government to finance its expenditures, offering a fixed interest rate over a certain period.

Federal Income Tax

A charge imposed by the US federal government on the yearly income of persons, companies, trusts, and other entities.

Interest Rate

The percentage charged on the total amount of borrowed money or paid on investments, over a specific time frame.