The Impact of Henry Ford on the Modern Wage System
11 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

How did Henry Ford reduce the price of the basic automobile?

  • By raising the labor costs
  • By increasing the market wage rate
  • By excluding his workers from direct ownership and profit sharing opportunities
  • By reducing the production cost of the car (correct)

    • What did Henry Ford do wrong according to the text?

  • He raised the labor costs
  • He increased the market wage rate
  • He excluded his workers from direct ownership and profit sharing opportunities (correct)
  • He reduced the price of the basic automobile

    • What was the consequence of Ford's decision to exclude his workers from ownership and profit sharing?

  • Manufacturing in Japan shifted to high-wage countries
  • American labor costs increased
  • The price and quality of Japanese cars decreased
  • Japanese auto workers out-competed American workers (correct)

    • Average manufacturing compensation in Mexico is what percentage of manufacturing compensation in the U.S.?

    <p>15%</p> Signup and view all the answers

    In employee ownership companies, workers have received more from profits than from wages in some years. True or False?

    <p>True</p> Signup and view all the answers

    Under Justice-Based Management, what is the role of the labor union?

    <p>To provide an institutional counterbalance to management</p> Signup and view all the answers

    What should be management's focus in a participatory ownership company?

    <p>Satisfying customer demand</p> Signup and view all the answers

    Under Justice-Based Management, what should be the role of the union?

    <p>To advocate for economic justice for nonmanagement employees</p> Signup and view all the answers

    What can unions do under Justice-Based Management?

    <p>Collaborate with management to increase productiveness and profitability</p> Signup and view all the answers

    What is the basis for long-term thinking in a justice-based management company?

    <p>Equity</p> Signup and view all the answers

    What does Justice-Based Management recognize about each person's identity and development?

    <p>It flows from their work, both economic and noneconomic</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser