Question

How did mechanization affect prices?

Answer 1

Answer:

Mechanization implied a general drop in prices.

Explanation:

Mechanization means the use of machines and equipment to assist people in manual work. It can also mean using machines to replace human or animal work. Automation is an upper level of mechanization where control tasks are also transferred to machines.

By replacing human work in certain sectors, the probability of failure is reduced, and production times are reduced, as factors such as physical exhaustion or job delay do not influence production. This in turn generates greater production in the same working time, which can be offered greater quantities of a product at the same time as a smaller quantity was previously offered. These characteristics, taken together, imply a decrease in the price of these products.