ECONOMICS (CBSE/UGC NET)

ECONOMICS

SCARCITY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The creation of Henry Ford’s assembly line is an example of growth by:
A
Technology
B
Productivity
C
Trade
D
None of the above
Explanation: 

Detailed explanation-1: -What made this assembly line unique was the movement element. Henry Ford famously remarked that the use of the moving assembly line allowed for the work to be taken to workers rather than the worker moving to and around the vehicle. The vehicle began to be pulled down the line and built step-by-step.

Detailed explanation-2: -The assembly line was a new technological idea that opened up the door for future technology by vastly cutting down the production time of automobiles in the early 1900’s. Before the creation of the line, Ford’s factories ran in a simple, base-level way.

Detailed explanation-3: -By 1893, he had built a small one-cylinder gasoline combustion engine. Three years later he invented the Quadricycle the first “horseless carriage.” The Quadricycle had four wire wheels, was steered by a boat-like tiller, and propelled by an ethanol-powered engine with two forward speeds and no reverse.

Detailed explanation-4: -Ford was inspired by the meat-packing houses of Chicago and a grain mill conveyor belt he had seen. If he brought the work to the workers, they spent less time moving about. Then he divided the labor by breaking the assembly of the Model T into 84 distinct steps. Each worker was trained to do just one of these steps.

There is 1 question to complete.