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Cards In This Set
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What were some things Henry Ford introduced?
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Methods that revolutionized production, wages, working conditions and daily life.
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What is Mass production?
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The rapid manufacturing of large numbers of identical products.
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What was a Model T car?
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A car developed by Henry Ford which was a reliable car that the average american could afford.
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What did Henry Ford use Scientific management for?
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To improve mass production techniques.
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What did Henry Ford use to speed up production?
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Assembly lines.
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How much did Henry Ford increase wages?
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2.35 to 5 dollars a day.
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What two week days did he give his workers off?
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Saturday and sunday
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What other industries boomed thanks to the car industry?
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Steel, glass, rubber, asphalt, wood, gasoline, insurance, and road construction.
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What was the consumer revolution?
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A flood of new affordable goods became available to the public.
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What is installment buying?
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When a consumer makes a small down-payment and put the debt in regular monthly installments.
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What was the bull market?
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A period of rising stock prices.
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How did buying on the margin work?
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A buyer paid 10 percent of the stock price up front to the broker. the person paid the broker a portion over several months. As long as the stocks rose they had no problem paying it off.
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