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24 January, 08:32

Ford assembles some cars in Mexico because the lower wages the company pays to Mexican workers and the lower prices it pays for auto parts in Mexico reduces Ford's costs. This is an example of Ford reacting to which of the three key economic ideas?

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  1. 24 January, 11:25
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    The key economic idea is: people respond to economic incentives

    Explanation:

    This economic idea is about taking advantage of opportunities to better yourself economically as a company.

    People and companies could do things for a number of reasons or motives, but they usually do thing because they are good fot them monetarily.

    In this case Ford is doing this because of the economic incentive of paying less to their workers and saving that money.
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Home » Business » Ford assembles some cars in Mexico because the lower wages the company pays to Mexican workers and the lower prices it pays for auto parts in Mexico reduces Ford's costs. This is an example of Ford reacting to which of the three key economic ideas?
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