What is the central economic problem
As an entrepreneur Henry Ford faced the problem of high turnover rates in his factory due to the long hours his employees had to put in. He worked through this problem by increasing the rate of pay and benefit packages he offered his employees.
All resources are scarce.
The basic economic problem is about scarcity and choice, which every society has to deal with.
inflation!
One problem not faced by the Ford Administration was the missile crisis.
One problem Ford faced was the capture of an American ship by Cambodians.
inflation-apex
inflation-apex
The Ford administration was faced with the problem of the capture of an american ship by Cambodians.
One significant problem faced by the Ford administration was the economic crisis characterized by high inflation and unemployment, known as "stagflation." Additionally, the Ford administration struggled with the aftermath of the Watergate scandal, which had eroded public trust in government. Ford's attempts to address these issues, including his controversial decision to pardon Richard Nixon, further complicated his presidency and approval ratings.
Capture of an American ship by Cambodians. Inflation/stagflation Apex :)
Getting financing was his major problem in the beginning.
Inflation
Ford Administration Building was created in 1925.
Memories of the Ford Administration was created in 1992.
Americans wanted President Gerald Ford to solve the problem of inflation.His administration launched a campaign called 'WIN', which stood for Whip Inflation Now. It was considered by many to be a flop.