MASS PRODUCTION
• MASS PRODUCTION IS THE SYSTEM OF MANUFACTURING LARGE NUMBERS OF IDENTICAL ITEMS
•
DIFFERENT ELEMENTS OF MASS PRODUCTION ARE ?
 DIVISION OF LABOR .
 INTERCHANGEABLE PARTS .
 ASSEMBLY LINE
 HTTPS://WWW.YOUTUBE.COM/WATCH?V=2M4UTE8VXKM
CORPORATION AND SOLE PROPRIETORSHIP
• CORPORATION – IS A BUSINESS ORGANIZATION IN WHICH PEOPLE CAN BUY SHARES OF STOCKS
• SOLE PROPRIETORSHIP – IS A BUSINESS OWNED AND CONTROLLED BY TWO OR MORE PEOPLE
DOWN FALL OF SOLE PROPRIETORSHIP
1. RESPONSIBLE OF ALL DEBT
2. REMAIN SMALL
3. FEW WORKERS
4. COULD NOT AFFORD MASS PRODUCTIONS
BUSINESS CYCLE AND ITS IMPACT ON THE
SOCIETY
• BUSINESS CYCLE – IS ALTERNATING PERIOD OF PROSPERITY AND DECLINE.
• IF THERE WAS A DECLINE IN THE BUSINESS CYCLE THEY WOULD LAY OFF WORKERS OR REDUCE WAGES
WHICH LEADS TO AN ECONOMIC DEPRESSION
•
PROSPERITY RESULTS FROM A GREAT DEMAND FOR COAL, IRON AND WORKERS
MONOPOLIES AND CARTELS
• MONOPOLIES – IS A COMPLETE CONTROL OF THE PRODUCTION OR SALE OF A GOOD OR A SERVICE BY A
SINGLE FIRM
• CARTELS – IS A COMBINATION OF CORPORATIONS
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