Show transcribed image textThe main reason that Ford cars were not affordable before the Model T came to the market was because they were too expensive to produce. Ford was able to sell half a million cars per year at a price below $600 because he used a production process kno…View the full answerTranscribed image text: BUSI 2003 Topic: Economic growth and productivity Group activity: After watching the video, each group will discuss/answer the following assigned question(s) and prepare for the large group discussions. Q1: Why were not the Ford cars affordable before the Model T came to the market? And how could ford sell half a million car per year with a price even below $600 ? Q2: How did he increase labour productivity? Q3: What are the side effects of the economic growth, if any? Are they really the product of the economic growth? Q4: Would you agree with the conclusions made from the report issued by the Club of Rome? Explain your answer. Q5: How were the problems stemmed (or that was predicted to arise) from the rapid economic growth solved to some extent? Any market correction or adjustments?
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