Useful Information

Assembly Line

Assembly Line

Assembly line is a manufacturing method that divides production into separate tasks, turning out large quantities of goods at low prices. Workers repeatedly perform a single step in an assembly process, such as inserting, tightening, or inspecting a part. Assembly lines reflect the principle of division of labor, which breaks…

Read More →
Hire Purchase

Hire Purchase

Hire purchase is a method of buying on credit. In the United States, the method is called the installment plan. A store that sells goods on hire purchase usually requires that the buyer pay part of the price of an article at the time of the sale. The buyer then…

Read More →
Installment Plan

Installment Plan

Installment plan is a method of buying on credit. A store which sells goods on the installment plan usually requires that the buyer pay part of the price of an article at the time of the sale. The buyer then must pay equal parts of the remainder at stated times…

Read More →