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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.
Functions of Money Money performs several important functions. It serves as a medium of exchange, a unit of account, a store of value and a standard of deferred payments. In a
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
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The enzymes are highly specific in nature. During enzymatic reaction the enzyme is so built that it binds to the substrate in a specific manner. The stepwise mechanism of enzyme ca
Low levels of productivity: In addition to low standards of living, developing countries are characterized by relatively low levels of labour productivity. Throughout the dev
Describing Risk * To measure risk we should know: 1) All the outcomes which are possible. 2) The probability that each outcome will occur. * Interpreting Probability
Compensated Demand Curve: Compensated demand function for a commodity (say x1) of an individual consumer represents demand quantity for that good (which is purchased by the co
suppose you have a coffee shop. list of fixed input and variable input for operating the shop. ques-2 describe the condition under in which labour treated as variable cost and whic
Consider a thin transparent plate whose thickness d(x,y) is a square (instead of a sinusoidal) periodic function of x of period Δ=λ. Show that the angle θ between the diffracted wa
Since 1990, real income has increased rapidly , yet the average number of children per family has decline ." Three possible explanations for this process are given below.
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