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PRODUCTION Flashcards

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1
Q

WHAT IS PRODUCTION?

A

PRODUCTION IS THE CHANGING OF RAW MATERIALS INTO FINISHED OR SEMI-FINISHED GOODS AND SERVICES

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2
Q

WHY IS PRODUCTION NEEDED?

A
  • TO SATISFY PEOPLE’S NEEDS AND WANTS / TO MEET PEOPLE’S DEMANDS
  • FOR ECONOMIC AND SOCIAL DEVELOPMENT
  • TO BE SELF-RELIANT
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3
Q

WHAT IS THE DIFFERENCE BETWEEN NEEDS AND WANTS?

A

NEEDS: THIGNS THAT ARE ESSENTIAL FOR PEOPLE TO SURVIVE / THINGS PEOPLE CAN’T LIVE WITHOUT

WANTS: THINGS WE DESIRE TO HAVE TO MAKE LIFE EASIER AND BETTER

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4
Q

WHAT ARE THE FACTORS OF PRODUCTION

A
  • LAND (WATER, MINERALS AND OILS, PLANTS AND ANIMALS, BUILDING LAND)
    -LABOUR (SKILLED LABOUR, SEMI-SKILLED AND UNSKILLED LABOUR)
  • CAPITAL (MONEY CAPITAL AND CAPITAL GOODS)
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5
Q

DEFINE LAND, LABOUR AND CAPITAL

A

LAND: REFERS TO THE NATURAL ENVIONRMENT WITH ALL ITS RESOURCES USED IN PRODUCTION PROCESS

LABOUR: IS THE PHYSICAL WORK SOMEONE DOES TO PRODUCE GOODS AND SERVICES

CAPITAL:
MONEY CAPITAL-MONEY THAT IS USED TO INCREASE PRODUCTION

CAPITAL GOODS-GOODS THAT ARE USED IN TO INCREASE PRODUCTION

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6
Q

WAYS IN LAND IS USED IN THE PRODUCTION PROCESS

A
  • USED AS A SITE FOR FACTORIES / BUSINESSES
  • USED FOR FARMING / CONVERSATION / MINING
  • USED AS A SOURCE FOR RAW MATERIALS
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7
Q

HOW IS LAND OWNED?

A

PRIVATE OWNERSHIP:
INDIVIDUALS OR COMPANIES OWN THE LAND, E.G. TENANT FARMING, CROP SHARING

PUBLIC / STATE / COMMUNAL OWNERSHIP:
STATE OWNS THE LAND

COLLECTIVE OWNERSHIP:
THE STATE TAKES OVER THE LAND AND GIVES PEOPLE THE RIGHT TO WORK ON THE LAND TOGETHER

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8
Q

INFLUENCE OF PRIVATE OWNERSHIP

A

POSITIVE INFLUENCE
- MORE COMMERCIAL FARMS, LEADING TO INCREASED EXPORT / FOREIGN EXCHANGE
- COMMERCISL FARMERS CREATE JOBS

-COMMERCIAL FARMERS PAY TAX TO THE GOVERNMENT

  • SUBSISTENCE FARMERS PRODUCE ENOUGH FOR THE FAMILIES AND SURPLUS TO SELL TO THE LOCAL MARKET

NEGATIVE INFLUENCE:
- COMMERCIAL FARMERS FOCUS MORE ON EXPORT AND PROFIT, THUS NEGLECTING THE LOCAL NEEDS
- LAND MAY BELONG TO A SMALL GROUP WHILE MAJORITY ARE LAND LESS
- COMMERCIAL FARMING LEADS TO MORE ENVIRONMENTAL DAMAGE
-SUBSISTENCE FARMERS WHO OWN LAND PRODUCE LESS ADN NOT FOR EXPORT

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9
Q

DEFINE DIVISION OF LABOUR AND SPECIALISATION

A

DIVISION OF LABOUR: THE ALLOCATION OF WORK TO DIFFERENT PEOPLE

SPECIALISATION: WHEN A PERSON CONCENTRATES ON ONE KIND OF JOB RATHER THAN DOING A WHOLE RANGE OF JOBS

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10
Q

ADVANTAGES OF SPECIALISATION

A
  • INCREASES OF PRODUCTION
  • WORK IS DONE FASTER
  • LESS TRAINING NEEDED AS WORKERS CONCENTRATE ON WHAT THEY’RE GOOD AT
  • WORKERS BECOME EXPERTS
  • LEADST O ECONOMICS OF SCALE AS SPECIALISED MACHINERY IS USED
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11
Q

DISADVANTAGES OF SPECIALISATION

A
  • WORKERS FIND IT HARD TO FIND OTHER JOBS
  • IN CASE OF STRIKES BY ONE GROUP, THE WHOLE SYSTEM IS AFFECTED
  • WORK MAY BE MONOTOUS AND BORED
  • WORKERS MAY NOT BE PROUD OF THE END PRODUCT
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12
Q

HOW IS MONEY CAPITAL USED IN PRODUCTION?

A
  • TO PAY WORKERS WAGES / SALARIES
  • TO PAY FOR SERVICES
  • TO BUY RAW MATERIALS
  • TO BUY CAPITAL GOODS
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13
Q

NAME AND DEFINE THE TYPES OF ENERGY

A

RENEWABLE: COMES FROM SOURCES THAT ARE REPLACEABLE BY NATURAL RESOURCES

NON- RENEWABLE: COMES FROM SOURCES THAT ARE NOT REPLACEABLE ONCE DEPLETED

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14
Q

DESCRIBE TECHNOLOGY

A

REFERS TO CAPITAL GOODS SUCH AS TOOLS AND MACHINERY USED TO INCREASE PRODUCTION

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15
Q

DEFINE THE DIFFERENT TYPES OF TECHNOLOGY

A

SIMPLE TECHNOLOGY
- SIMPLE TOOLS USED IN PRODUCTION / LABOUR INTENSIVE METHODS OF PRODUCTION
E.G. SPADE, FORK, PENCIL

INTERMEDIATE TECHNOLOGY
- TECHNOLOGY THAT IS NOT SIMPLE BUT LESS ADVANCED THAN COMPLEX TECHNOLOGY
E.G. BICYCLE, HAND PUMP, TORCH

COMPLEX / ADVANCED / HIGH TECHNOLOGY
- SOPHISTICATED MACHINES USED IN PRODUCTION
E.G. COMPUTER, CELL-PHONE, TRACTOR

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16
Q

ADVANTAGES AND DISADVANTAGES OF SIMPLE TECHNOLOGY

A

ADVANTAGES:
- EASY TO BE USED
- CHEAP TO BUY AND MAINTAIN
- DOESN’T NEED HIGHLY SKILLED / EDUCATION TO OPERATE THE TOOLS

DISADVANTAGES
- TAKES LONG TO PRODUCE GOODS
- MAY PRODUCE POOR QUALITY GOODS
- TOOLS ARE NOT DURABLE

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17
Q

ADVANTAGES AND DISADVANTAGES OF INTERMEDIATE TECHNOLOGY

A
  • MORE AFFORDABLE COMPARED TO COMPLEX
  • EASY TO USE AND MAINTAIN
  • GOODS CAN PRODUCED AT A REASONABLE TIME AND PRICE

DISADVANTAGES
- OUTPUT IS SLOW AT A TIME COMPARED TO COMPLEX
- EXPENSIVE COMPARED TO SIMPLE TECHNOLOGY

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18
Q

ADVANTAGES AND DISADVANTAGES OF COMPLEX TECHNOLOGY

A

ADVANTAGES
- PRODUCTION IS VERY FAST AND IT INCREASES PRODUCTION
- REDUCES LABOUR COST

DISADVANTAGES:
- VERY EXPENSIVE TO BUY AND MAINTAIN
- REQUIRES SKILLED PEOPLE TO OPERATE THE MACHINES
- SPARE PARTS MAY NOT BE LOCALLY AVAILABLE

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19
Q

DEFINE APPROPRIATE TECHNOLOGY

Study These Flashcards
A
  • REFERS TO THE RIGHT / SUITABLE TECHNOLOGY FOR THE JOB
20
Q

ADVANTAGES OF APPROPRIATE TECHNOLOGY

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A
  • INCREASES PRODUCTION
  • AVOIDS UNNECESSARY COSTS
  • PRODUCES QUALITY PRODUCTS
21
Q

EXPLAIN THE ECONOMIES OF SCALE

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A
  • INCREASING THE AMOUNT OF PRODUCTION AT A LOWER COST
22
Q

HOW TO ACHIEVE ECONOMIES OF SCALE / TYPES OF ECONOMIES OF SCALE

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A
  • BY USING COMPLEX TECHNOLOGY THAT WILL INCREASE OUTPUT AT A HIGHER RATE
  • THROUGH LABOUR SPECIALISATION
  • BUYING RAW MATERIALS IN BULK
  • MARKETING THE PRODUCT
23
Q

DESCRIBE LABOUR AND CAPITAL INTENSIVE METHODS OF PRODUCTION

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A

LABOUR INTENSIVE - WHEN MORE HUMAN LABOUR THAN MACHINES ARE USED IN PRODUCTION

CAPITAL INTENSIVE - WHEN MORE MACHINES THAN HUMAN LABOUR IS USED IN PRODUCTION

24
Q

ADVANTAGES AND DISADVANTAGES OF LALBOUR INTENSIVE

Study These Flashcards
A

ADVANTAGES
- PEOPLE BECOME MORE SKILLED
- CREATES MORE JOB OPPORTUNITIES
- CHEAPER AS SIMPLE / INTERMEDIATE TECHNOLOGY IS USED

DISADVANTAGES
- PRODUCTION IS SLOW COMPARED TO CPAPITAL INTENSIVE
- TOOLS ARE NOT VERY DURABLE
- MORE MONEY IS SPENT TO PAY FOR THE WORKERS

25
ADVANTAGES AND DISADVANTAGES OF CAPITAL INTENSIVE
ADVANTAGES - PRODUCTION OS FASTER COMAPRED TO LANOUR INTENSIVE -SAVES ON LABOUR COST - IT LEADS TO ECONOMIES OF SCALE DISADVANTAGES - THE USE OF MACHINERY INCREASES UNEMPLOYMENT - MACHINERY IS EXPENSIVE TO BUY AND MAINTAIN - IT MOSTLY REQUIRES SKILLED WORKERS
26
WHY DOES CAPIRAL INTENSIVE INCREASE PRODUCTION MORE THAN LABOUR INTENSIVE
-MACHINES CAN WORL MORE HOURS THAN HUMAN LABOUR - SPECIALISED MACHINES ARE DESIGNED TO PRODUCE MORE PRODUCTS AT A GIVEN TIME
27
DESCRIBE AND EXPLAIN SECTORS OF PRODUCTION IN COUNTRIES AT DIFFERENT LEVELS OF DEVELOPMENT
DEVELPOED COUNTRIES - LOWER % OF POPULATION EMPLOYED IN AGRICULTURE OR PRIMARY SECOTR - HIGHER % OF POPULATION EMPLOYED IN SECONDARY AND TERTIARY SECTORS DEVELOPING COUTNRIES - HIGHER % OF POPULATION EMPLOYED IN AGRICULTURE / PRIAMRY SECTOR - LOWER % OF POPULATION EMPLOYED IN SECONDARY AND TERTIARY SECTORS
28
WHAT IS THE PRIMARY SECTOR?
- WHERE RAW MATERIALS ARE EXTRACTED (MINING, FISHING, AGRICULTURE)
29
WHAT IS THE SECONDARY SECTOR?
- WHERE RAW MATERIALS ARE TURNED INTO GOODS
30
WHAT IS THE TERTIARY SECTOR?
- WHERE SERVICES ARE PROVIDED
31
HOW A MANUFACTURING INDUSTRY (SECONDARY SECTOR) CAN BE LINKED TO OTHER SECTORS OF THE ECONOMY
- ANIMALS ARE SLAUGHTERED AND THE MEAT HAS TO BE PROCESSED INTO DIFFERENT PRODUCTS (SECONDARY SECTOR) -THE MEAT IS TRANSPORTED ARE TRANSPORTED BY MEANS OF ROAD / RAILWAY TO THE CONSUMERS (TERTIARY SECTOR) - A MEAT PROCCESSING PLANT MAY RECEIVE ITS RAW MATERIALS FROM THE FARMS (PRIMARY SECTOR) -SKILLED WORKERS TO DO MARKETING ON INTERNET OR NEWSPAPER AND DISTRIBUTION ARE TRAINED BY EDUCATION (TERTIARY SECTOR)
32
WHAT IS A SOLE TRADER?
- ONE PERSON OWNS AND RUNS THE BUSINESS
33
WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF A SOLE TRADER?
ADVANTAGES - THE OWNER IS THE OWN BOSS - DECISIONS ARE MADE PROMPTLY - THE OWNER KEEPS ALL THE PROFIT - OWNER HAS CLOSE AND PERSONAL RELATIONSHIP WITH EMPLOYEES AND CUSTOMERS DISADVANTAGES - NOT EASY TO GET STARTING CAPITAL - OWNER LOSES ALL MONEY IF BUSINESS FAILS - NOT EASY TO REACH ECONOMIES OF SCALE - TAKING LEAVE OR HOLIDAYS MIGHT BE DIFFICULT
34
DEFINE CO-OPERATIVE
- FORMED BY A GROUP OF PEOPLE BRINGING THEIR RESOURCES TOGETHER TO START A BUSINESS
35
ADVANTAGES AND DISADVANTAGES OF CO-OPERATIVES
ADVANTAGES - POWERFUL COMBINED BUYING POWER - SELLING IN BULK IS POWERFUL - SHARE COSTS OF FARMING EQUIPMENT -SHARE IDEAS FOR GROWTH OF BUSINESS DISADVANTAGES - NOT EASY TO TAKE DECISIONS OR CONSULTATION HAS TO BE MADE - EACH MEMBER MAY RECEIVE LESS AS PROFIT IS SHARED
36
DEFINE THE DIFFERENT COMPANIES
COMAPNIES: CAN EITHER MULTINATIONAL COMPANY (MNC) OR PARASTATALS/STATE OWNED MNC/TNC: LARGE COMPANIES THAT OPERATE IN MORE THAN ONE COUNTRY PARASTATALS: COMPANIES THAT ARE OWNED AND CONTROLLED BY THE GOVERNEMNT OF A COUNTRY IN WHICH THEY OPERATE
37
ADVANTAGES AND DISADVANTAGES OF MNCs
ADVANTAGES: - BRING EMPLOYMENT OPPORTUNITIES - THEY PAY TAX TO THE GOVERNMENT / BRING IN FOREIGN EXCHANGE - MAY SPONSOR LOCAL PROJECTS - ACCESS TO QUALITY FOREIGN PRODUCTS -LEADS TO IMPROVED TECHNOLOGY AND SKILLS OF LOCALS DISADVANTAGES: - PROFIT IS SENT BACK TO COUNTRY OF ORIGIN - WORKERS ARE EXPLOITED - DO NOT TAKE CARE OF THE ENVIRONMENT -SMALL LOCAL BUSINESSES MAY CLOSE - THEY MAY INTERFERE IN LOCAL POLITICS
38
DISTINGUISH BETWEEN MICRO-ELECTRONIC AND BIOTECHNOLOGY
MICRO-ELECTRONICS ARE CELLPHONES, LAPTOPS WHICH HAVE MADE COMMUNICATION EASIER BIOTECHNOLOGY PROVIDES FUEL OR ENERGY SOURCE TO USE IN PRODUCTION
39
ADVANTAGES AND DISADVANTAGES OF MICRO-ELECTRONICS
ADVANTAGES: - VERY FAST AND EASY TO COMMUNICATE - SOLVE PROBLEMS VIA COMMUNICATION DISADVANTAGES - EXPENSIVE - REQUIRE SKILLS TO USE THEM EFFECTIVELY
40
ADVANTAGES AND DISADVANTAGES OF BIOGAS
ADVANTAGES: - NATURAL AND EASY TO GET DISADVANTAGES: - SYSTEM IS EXPENSIVE - REQUIRE SKILLED PROFESSIONALS TO OPERATE THE SYSTEM
41
DEFINE COMMUNICATION
- THE SHARING OF IDEAS OR INFO IN ORDER TO GIVE A MESSAGE OR REACH AN OBJECTIVE
42
DEFINE THE DIFFERENT METHODS OF COMMUNICATION
- WRITTEN COMMUNICATION THROUGH LETTER, MEMO OR MINUTES OF MEETINGS - ELECTRONIC - USING FAX MACHINES, TELEPHONES OR EMAIL - VISUAL- POSTERS. PHOTOGRAPHS, ADVERTS AND TELEVISION - VERBAL- WORDS AND BODY LANGUAGE
43
WHAT ARE THE BARRIERS OF COMMUNICATION
- THE SENDER MAY NOT EXPLAIN THE MESSAGE PROPERLY - LANGUAGE BARRIERS - INCORRECT USE OF EQUIPMENT - MESSAGE MAY BE DISTORTED OR TWISTED
44
EVALUATE STRATEGIES FOR INCREASING PRODUCTION
PRIVATISATION - THE PROCESS OF SELLING PARASTATALS / STATE CO-OPERATIVES TO PRIVATE INDIVIDUALS
45
ADVANTAGES OF PRIVATISATION
- MORE INCOME / MORE REVENUE FROM SALE -IT GIVES MORE CHOICES TO CONSUMERS / VARIETY OF PRODUCTS - IT RESPONDS QUICKLY TO CHANGES IN DEMAND - IT CREATES JOBS/ REDUCES UNEMPLOYMENT - ENCOURAGES COMPETITION WHICH KEEPS PRICES LOW BUT GOODS/SERVICES OF HIGH QUALITY - IT IMPROVES QUALITY OF GOODS/SERVICES

Development (6 decks)

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