How Did Mass Production Benefit Society? Anything consumers needed or desired could be made in larger quantities. Mass production resulted in lower prices of consumer goods. Eventually, economies of scale resulted in the most affordable price of any product for the consumer without the manufacturer having to sacrifice profits. What are the pros and cons
Why Should The Federal Government Control Minimum Wage? Federal governments use minimum wage laws to ensure a basic quality of life among all citizens within its borders. These laws attempt to improve an individual’s position in the economic income brackets. Rather than have copious amounts of underpaid or poor citizens, minimum wage laws seek a
What Most Accurately Compares Handmade Products With Mass-produced Products? Which of the following most accurately compares handmade products with mass-produced products? Handmade products are made slowly by skilled workers. Mass-produced products are made quickly by machines. What is one way that the system of mass production? What is one way that the system of mass
Will Technology Increase Or Reduce Human Employment Opportunities? However, most of the workforce will be in the tech industry. Robots will eventually reduce human employment, but the robotics industry will also generate jobs. According to a recent report, between 2017 and 2037, robots will replace around 7 million people at work. Will technology reduce or
What Is Absolute Advantage Example? Absolute advantage refers to the ability of a country to produce a good more efficiently than other countries. … For example, the Canadian economy, which is rich in low cost land, has an absolute advantage in agricultural production relative to some other countries. How does the US benefit from comparative
How Might A Minimum Wage Law Impact The Supply And Demand Of Workers? The Effect of a Minimum Wage Increase on Employment and Unemployment. … At the same time, the higher minimum wage means that more people would like jobs. The increase in the amount of labor that people would like to supply, and the
What Was One Effect Of Mass Production Brainly? Anything consumers needed or desired could be made in larger quantities. Mass production resulted in lower prices of consumer goods. Eventually, economies of scale resulted in the most affordable price of any product for the consumer without the manufacturer having to sacrifice profits. What was one effect
What Were The Effects Of The Market Revolution? The market revolution sparked not only explosive economic growth and new personal wealth but also devastating depressions—“panics”—and a growing lower class of property-less workers. Many Americans labored for low wages and became trapped in endless cycles of poverty. What were the causes and effects of the market
Which Of The Following Is A Disadvantage Of Mass Production? Initial costs: It takes a lot of capital and time to build a factory equipped with specialized machinery. Specialized machinery costs a lot of money, and so does the factory floor space needed to hold assembly-line machinery. Initial costs can make it hard for smaller
How Were Prices Of Goods Affected By Mass Production? Anything consumers needed or desired could be made in larger quantities. Mass production resulted in lower prices of consumer goods. Eventually, economies of scale resulted in the most affordable price of any product for the consumer without the manufacturer having to sacrifice profits. Why is mass