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John D Rockefeller was able to gain control over most of the oil industry by?
collaborating with the rail system,
What is A situation in which a company or group of companies has enough control over an industry to be able to affect prices and availability of products?
A monopoly, hence anti-trust and competition legislations
Why did business people believe in an economic system free of government control?
Business people want less government control so that their businesses won't be highly regulated. They want to be able to expand without regard to promoting competition within the industry.
When a company is able to control a products supply and therefore it price?
It is called a monopoly.
What impact did the auto industry have on the economy in the 1920's?
The mass production of automobiles in the 1920's affected the economy of the United States because mass production made technology affordable to the middle and lower classes because the mass production made it cheaper and quicker to build so more people could afford them. Because of this it developed all sorts of businesses that required transportation. The automobile industry's effects contributed to the construction of highway buildings, motels, service stations, used car dealerships and new housing outside the range of mass transportation.
What was henry ford's dream?
Henry Ford had the dream that every American should be able to afford a car.
What kind of business is able to control an entire industry?
A Monopoly
How was Henry ford able to reduce the cost of producing cars?
Assembly Line
What are the advantages of production planning and control to a small scale industry discuss?
Advantages of production planning and control to a small scale industry are that, the industry is able to manage its finances, the industry controls the order and stock, there is no over or underproduction.
What did the process called vertical integration adopted by Henry Ford entail?
Ford purchased mines and smelting operations to better control the source and supply of material to produce cars. In this way, he was able to reduce his standing inventory and increase turnover
How was Henry Ford able to make the car inexpensive for Americans?
Henry Ford's application of the assembly line concept was one substantial factor in his ability to make an inexpensive automobile.
Why did Henry ford pay his workers 5 a day?
he was able to hire the best mechanics.
What technological innovation allowed Henry ford to be able to mass produce automobiles?
assembly lines
How was Henry ford able to reduce thee price of the model t?
Assembly line
Was Henry ford was ultimately able to sell more cars because of the success of his assembly line?
true
Why did Henry Ford pay hes workers so well?
He didn’t want them to join unions, and he wanted them to be able to buy Ford products.
Why did Henry Ford pay his workers so well?
He didn't want them to join unions, and he wanted them to be able buy Ford products.
