THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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locating in rural areas.
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offering low prices instead of elaborate service.
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bringing together a huge array of different products.
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coming together to form shopping malls.
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Detailed explanation-1: -Economies of scale are cost advantages reaped by companies when production becomes efficient. Companies can achieve economies of scale by increasing production and lowering costs. This happens because costs are spread over a larger number of goods.
Detailed explanation-2: -A holding company owns the stock of companies that produce goods. The holding company controls all the companies it owns, effectively merging them into one large enterprise.
Detailed explanation-3: -Natural Resources An abundance of raw materials was one reason for the nation’s industrial success. The United States had vast natural resources, including timber, coal, iron, and copper. This meant that American companies could obtain them cheaply and did not have to import them from other countries.
Detailed explanation-4: -In these circumstances, big corporations had several advantages: They could produce goods more cheaply and efficiently. They could continue to operate in poor economic times by cutting prices to increase sales, rather than shutting down.