Econ 1

2. What were the weaknesses of each of the following methods of stabilizing the industry?

The structural manifestation of the economy manifested itself in two ways. First, each sector’s contribution to the total income of the nation changed in the course of economic growth. As this happened, the nature of the work that laborers performed was also transformed (Olson 288). The value of agriculture as the principal employer started to diminish. As a result, attention of laborers shifted to the manufacturing sector.

Answer the next question on the basis of the following production possibilities tables for countries Alpha and Beta:

Due to the large number of unskilled workers, manufacturing gave its workers boring, labor intensive jobs that focused on one aspect of a much larger system (Document C). Wells compared manufacturing to a military organization, which included workers who performed one task repeatedly, producing a part of the end

Mass production became a new phenomenon that led to a drastic change in America's economy. This lead to specialization of labor causing a decrease in skill among the workers who would consistently produce one aspect of a product until “there is no more of that kind of work to do” and are then helpless (Doc C). This approach to manufacturing caused unstable jobs due to the fact that they were easily replaceable being that their jobs required minimal skill or knowledge. As mass production boomed, it led to a decrease

g) evidence is available from internal reporting that indicates that the economic performance of an

a. We were already lagging behind the market to begin with. Unless we give an increase in the basic

Specialization and division of labour has changed the production process into what it is today.

P1 – Explain the effects of changes in the economic environment on a selected business.

illustrate the plight of labour under a system of increasing specialization. That is to say, it

7. Which of the following must be true if a firm is experiencing economies of scale?

Q8: Write a report that outlines the information you have gathered and any recommendations you would make as a result.

Once the factory became common, technological advances were soon made to improve them, the most important of which was the division of labor.

This division of labor was less time consuming and the worker could make more and a less amount of time. The invention of these machines reduced the amount of time that the workers had to spend on making the items themselves. This in turn lessened the work for because soon there would be no need for the workers due to the machines. But, at the same time, they also fell in to the hands of big capitalists, and their workers were deprived of whatever independence remained to them (Marxists 3).

D. It also engaged in the wholesale coffee beans, more and more companies buy coffee beans from the it