Understanding Mass Production

What is a key advantage of mass production that allows businesses to reduce costs?

• Economies of scale

• Increased reliance on skilled workers

• Reducing production speed

• Customizing each product

How does Tesla make its electric cars more accessible to the mass market?

• By using manual labor for assembly

• By producing cars in small batches

• By increasing the price of each car

• By automating production with robots

What is a potential downside of mass production related to the workforce?

• Increased job satisfaction

• Higher rates of absenteeism

• More opportunities for creativity

• Greater flexibility in job roles

Why might profit margins be slim in a competitive market using mass production?

• Increased reliance on skilled labor

• Products are identical and sell for less

• High demand for unique products

• Products are highly customized

What is a significant initial cost associated with mass production?

• Investing in equipment and machinery

• Purchasing raw materials in small quantities

• Marketing and advertising

• Training skilled workers