Production

Question 1

Production

Answer 1

A measure if the value of the output of G/S

Question 2

Productivity

Answer 2

Output per unit of input over a SPOT

Question 3

Output of G/S equation

Answer 3

Factor inputs + Factor productivity

Question 4

Fall in productivity

Answer 4

A rise in firms costs per unit

Question 5

A rise in Productivity

Answer 5

A fall in firms costs per unit

Question 6

Factors affecting Labour productivity (4)

Answer 6

Management
Infrastructure quality
Capital equipment and technology
Apprenticeships and training

Question 7

Division of Labour

Answer 7

Occurs when the production process is broken down into individual tasks

Question 8

Advantages of DOL (2)

Answer 8

• Increases productivity, hence reduces unit costs
• Higher quality

Question 9

Disadvantages of DOL (4)

Answer 9

Machines more efficient than labour
Interdependence
Lower quality
Demotivating

Question 10

Specialisation

Answer 10

A process where an individual, firm or country focuses its production on a limited scope of G/S in order to achieve a grater degree of productive efficiency