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Explain the term Fordism
Between approximately 1890 and 1930-or perhaps 1890 and 1950-a host of innovative technologies and business practices were adopted in the US. Europeans speak of 'Fordism': taking the part--Henry Ford's assembly lines in Detroit and his mass production of the Model-T Ford--for the whole. The fact that other industrial economies were unable to fully adopt American technologies of mass production and mass distribution in the first half of the 20th century gave the U.S. a unique level of industrial dominance and technological leadership in the years after 1950.
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what are he uses of a balance of payement
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The most fundamental economic problem is scarcity.
Marginal rate of technical substitution in the theory of production is similar to the concept of marginal rate of substituent to in the indifference curve analysis of consumer dema
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using the tools of an indifference curve and isoquent, highlight on consumption and production in business economics.
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