The manufacturing of cars, guns and fast food are examples of mass production. Mass production is a method of producing goods in large quantities at a low cost per unit. The machine tool industry gave rise to the idea of mass production. Innovators in Britain and the United States began producing interchangeable parts.Continue Reading
Although Henry Ford invented an improved version of the assembly line, the first car to be mass produced
in the United States was the 1901 Curved Dash Oldsmobile. Ransom Eli Olds conceived the basic concept of the assembly line and built 425 Curved Dash Oldsmobiles in 1901. He led the automotive manufacturing market from 1901 to 1904.
Henry Ford installed the first conveyor belt assembly line around 1913 or 1914. This production method reduced the building time of the Model T to just 93 minutes. Ford also became the world's-largest car manufacturer, having produced more than 15 million Model Ts by 1927.
The fast food industry uses mass production to provide consistent experiences from one location to another. Food is mass-produced and frozen, and natural and artificial flavors are added at the factory. Equipment is the same from one kitchen to the next, and food is cooked exactly the same.Learn more about Economics
Some of the economic issues faced by Americans in 2015 include a decline in manufacturing and the accompanying reduction in American blue-collar jobs. In addition, income inequality continues to dampen the American economic outlook and create social upheaval.Full Answer >
The main jobs in Italy are in the tourism industry, the automobile industry and textile manufacturing. The service sector accounts for the most jobs in Italy, employing 61.9 percent of the of the Italian workforce. Examples of in-demand service sector jobs include nursing, teaching and hotel management.Full Answer >
Some of the world’s fastest production cars include the 2010 Bugatti Veyron Super Sport at 267.86mph, the 1993 McLaren F1 at 240.1mph, the 1992 Jaguar XJ220 at 212.3mph and the 1987 Ferrari F40 at 202.69mph. Production runs are usually very limited for these supercars, with less than 300 of each model being made, except for the Ferrari F40, of which there were 1311 made between 1987 and 1992.Full Answer >
Wal-Mart reducing its prices to the point that the competition cannot compete, and American Airlines reducing its ticket prices to below cost and increasing the frequency of its flights are two examples of predatory pricing. By reducing their prices to these extremely low levels, large businesses hope to put small competitors out of business and create a monopoly. Large businesses can handle short-term losses if it leads to the elimination of competition in an area.Full Answer >