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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Made America the richest nation in the world
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They used a lot of the natural resources
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Created products that people wanted at low prices
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They created a lot of well paying jobs and treated workers well
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Detailed explanation-1: -The advantage that large firms have is that typically, they are more established and have greater access to funding. They also enjoy more repeat business, which generates higher sales and larger profits than smaller scale companies.
Detailed explanation-2: -Large companies can offer their employees “more, ” because they have more resources. For example, large companies generally offer higher salaries and bonuses. They can also kick in more for the employer share of insurance and may be more likely to contribute to other perks.
Detailed explanation-3: -Moreover, their size sometimes enables them to design higher quality products and to improve them faster and more efficiently. In these cases, products and services get better and cheaper when provided by large companies, to the benefit of their consumers.