Raul Contreras History 18 November 18‚ 2009 Assembly line From the beginning of times‚ most markets and products have been targeted to the bourgeoisie and/or anyone who could easily afford these products. But in the early 1900’s‚ an individual named Henry Ford‚ decided to change this idea and dared society to work for the success of the proletariat and the lowering of costs. Henry Ford‚ along with other individuals‚ created the highly praised “moving assembly line” and started the mind change
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the motor manufacturing industry was the vast number of vehicles which were manufactured and sold‚ with the Ford Motor Company being the catalyst for this. Henry Ford Established the Ford Motor Company in the early 20th century and quickly started selling his famous Model-T motor car. Alongside Frederick Taylor‚ Ford perfected the assembly line and made mass production a reality. A Model-T could be produced in 90 minutes and as a result the price for one dropped from $825 to $575 in four years. Fundamentally
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Command Economy What is the main purpose of the economic system? The main purpose of the economic system is method used to produce and distribute goods and service. The three economic questions are: “What goods should be produced?” “How should these goods and services be produced” And “Who consumes these goods and services?” The characteristic of a market economics is that self-interest is the motivating force in the free market‚ self regulating market. The interaction of buyers and sellers motivated
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TOPIC_1_2011: MEASURING A NATION’S INCOME PART 1: MULTIPLE CHOICES: 1. Macroeconomists study a. decisions of households and firms. b. the interaction of households and firms. c. economy-wide phenomena. d. regulations on firms and unions. 2. Which of the following questions is more likely to be studied by a microeconomist than a macroeconomist? a. Why do prices in general rise by more in some countries than in others? b. Why do wages differ across industries? c. Why
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VARIABLE COSTINGMorenike Onibon Liberty University Abstract Determining the actual valuation of manufactured assets has always been a major problem in the accounting field. The real controversy exist in the decision regarding which costs are relevant to future periods‚ and thus should be included in assets valuation‚ and which should not be charged against net income. An understanding of the relationship between costs‚ volume‚ and profit‚ enables management to set more realistic objectives for
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|Actual units produced |1‚000 |800 |1‚250 | |Budgeted units to be produced |1‚000 |1‚000 |1‚000 | |Units sold |700 |800 |1‚500 | |Manufacturing costs per unit produced |$900 |$900 |$900 | |Marketing costs per unit sold
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competitive environment that drives the generation of more and more knowledge‚ information‚ innovation and creativity; choose not to pay a high price for knowledge as a factor of production but expect a high price to be paid for the output that is produced. Another problem is that although there is a high‚ and ever-increasing level of competition in this market‚ capitalist firms are still clinging onto the high levels of profits coming from knowledge‚ information‚ creativity and innovation. In a market
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Economic Growth? Nominal GDP (Gross Domestic Product) measures the total value of goods and services produced by an economy over a period of time‚ which is normally one annum‚ and is not adjusted. There are factors which means that the fact the Nominal GDP is not adjusted makes it an inadequate measure of economic growth. Economic growth is the increase in the amount of the goods and services produced by an economy over time‚ and both positive and negative growth can be shown on a production possibility
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24 (p. 351): At the .05 significance level‚ is the number of units produced on the night shift larger? H0: µ1 ≤ µ2 H1: µ1 > µ2 Z critical value: 1.645 x̄d (µ1): 351 x̄n (µ2): 345 σ^2d: 21 σ^2n: 28 Nd: 54 Nn: 60 Z=(351-345)/SQRT((28^2/60)+(21^2/54))=1.302 Fail to reject the null. Z is less than the critical value; therefore‚ the number of units produced on the night shift is less than the number of units produced on the day shift. Chapter 11 – Question 34 (p. 352): Does this
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maybe even in Southern Indiana. Many people‚ especially Indiana University students and faculty‚ frequently eat at Hoosier Burger. The restaurant uses an information system that takes customer orders‚ sends the orders to the kitchen‚ monitors goods sold and inventory‚ and generates reports for management. [pic] The information system is depicted as a data flow diagram in Figure 7-4. • The highest-level view of this system‚ shown in the figure‚ is called a context diagram[1]. o This
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