INDUSTRIALIZATION

Who invented the Assembly line?

• Andrew Carnegie

• Henry Ford

• John D. Rockefeller

• Cornelius Vanderbilt

Mass production led to:

• Products being more superior in quality
• goods became less expensive
• laborers received higher wages
• industries moved to rural areas

Laissez-faire means...

• natural rights

• iron law of wages

• hands off

• tabula rasa

Why are crayons made using an assembly line?

• It makes the crayons more colorful.
• More crayons can be made faster.  
• They make better crayons

Which of the following are advantages of using the assembly line?

• Increased production

• Lower cost

• Products made faster

• More dangerous

Assembly lines are used to mass-produce goods. What is mass production?

• The production of high-quality goods
• The production of cheap goods
• The production of a small number of goods
• The production of a large number of goods. 

The workers needed for a job

• labor

• people

• mass production

• assembly line

What is capital?

• Money needed before starting a business.

• Money paid after a business begins.

• Money paid to banks.

An exclusive license granted for an invention, which is a product or a process that provides a new way of doing something.

• Copyright

• Trademark

• Copyleft

• Patent

A corporation is a business owned by its shareholders.

• True

• False