Which factor best accounts for the price change in the Model T automobile? (1 point)
A) Olow deman
B) Oorganized labor
C) mass production
D) Owartime inflation
C) mass production
The factor that best accounts for the price change in the Model T automobile is C) mass production.
The correct answer is C) mass production.
To explain why mass production is the factor that best accounts for the price change in the Model T automobile, it is important to understand the concept of mass production and its impact on cost and pricing.
Mass production refers to the manufacturing process of producing goods in large quantities, typically through standardized and highly automated techniques. In the case of the Model T automobile, Henry Ford implemented the use of assembly lines and interchangeable parts to streamline the production process.
Mass production played a crucial role in reducing the cost of manufacturing the Model T. By standardizing the production process and using automated tools, efficiency increased, leading to economies of scale. It became faster and cheaper to produce each vehicle.
As the cost of production decreased, the pricing of the Model T also decreased. This pricing strategy made it more affordable for the average consumer, leading to a surge in demand and sales. Consequently, the widespread availability and affordability of the Model T contributed to its significant impact on the automotive industry and wider society.
Regarding the other options:
A) Low demand - Low demand would not have driven the price change because, in this scenario, prices would typically remain stable or lower due to surplus inventory. However, the Model T had high demand due to its affordability, so low demand is not the main factor.
B) Organized labor - While organized labor, such as unions, can have an impact on production costs, it is not the primary factor in the price change of the Model T. The implementation of mass production techniques and standardized processes had a more significant influence on cost reduction.
D) Wartime inflation - Wartime inflation would not have been a factor in the price change of the Model T because it was introduced before the outbreak of World War I. Additionally, inflation typically leads to price increases, not decreases.
In conclusion, mass production was the main factor that contributed to the price change in the Model T automobile, as it significantly reduced the cost of production and subsequently made it more affordable for the average consumer.