Question

If you wanted a new pair of shoes during the Civil War (1861-1865), you traced the outline of your foot on a piece of paper and gave it to a shoemaker. There was no distinction between right and left foot because you wanted your shoes as quickly as possible, and the shoemaker knew that you would buy them even if they just "sort of" fit. This is an example of a transaction that would have occurred during the __________ era in U.S. business history.

Answer 1

Answer: Production era

Explanation: the production era, covered the early years of the United States up until the 1920s (1860s - 1920s). It was an era characterised by the production of goods in mass and at very low costs. During the production era in United States business history, goods were extremely scarce with buyers willing to accept virtually any goods that were produced and make do with them as best they could. This is exactly the case with the shoemaker knowing that customers would buy his shoes even if they just "sort of" fit.

The main significant idea was that products would sell themselves (thus increasing profitability), which made the major concern of businesses and firms to production, and not marketing.

Answer 2

Answer: production era

Explanation:

The production era began during the Industrial Revolution. Products were produced in mass and at a low cost. Typically businesses only produced one product at a time. Also during this era, businesses had the mindset of, “if produced, someone will buy” and thus increase profitability. Due to the current market, businesses could sell anything they produced.