ECONOMICS
PRODUCTIVITY
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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He provided free coffee for the workers.
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He increased pay to $5 per day.
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He made his factories play music for the workers.
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Workers received free uniforms.
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Detailed explanation-1: -Henry Ford decreased the shifts by one hour and gave employees higher wages. The shift length decrease allowed Ford to create a third shift and hire more workers. The assembly allowed Ford Motor Company to become a twenty-four hour operation. “Fordism” also grew out of the moving assembly line.
Detailed explanation-2: -In 1903, he borrowed $28, 000 to establish the Ford Motor Company. The early cars produced by this firm generated enough profit to make Ford wealthy, and to give him time to take on a more long-range project: the Model T.
Detailed explanation-3: -When Henry Ford introduced the moving assembly line in 1913 he loved it but his employees didn’t. The work was boring and relentless, and worker turnover was high. To get workers to stay, Henry more than doubled their pay, from $2.34 per day to $5 per day.
Detailed explanation-4: -The innovation of the moving assembly line cut the number of workers required and reduced the time it took to assemble a car. It also gave the company more control over the pace.
Detailed explanation-5: -On June 16, 1903, Henry and 12 others invested $28, 000 and created Ford Motor Company. The first car built by the Company was sold July 15, 1903.