Chapter 14/15 Flashcards
FoP+ sectors of econ/ Productivity+ DoL
Define productivity.
Rate at which goods/services produced
Formula for productivity?
Productivity= Total output/no. of workers
What factors affect productivity?
Land
Labour
Capital
Enterprise
How do land and labour affect productivity?
Land- Pesticides/fertilizers= produce more.
Labour- Efficiency, training, motivation (piece rates, job rotation), more management.
How does capital affect productivity?
New technology inc efficiency. Primary sector - tractors/lifting equipment.
Secondary- Robots for repetitive jobs.
Tertiary- Online shopping.
What is division of labour?
Dividing/breaking down the production line into smaller parts so that workers can have a specific task.
How does division of labour increase productivity?
Division of labour — concentration on task— specialization — efficiency inc — more output — productivity increases
Define specialisation.
Production of a limited range of goods by individuals, firms or nations.
What are the advs of division of labour to the worker?
- More skilled at that task due to repetition, more confidence.
- Confidence = job satisfaction + motivation.
What are disadvs of division of labour to the worker?
- Repetition causes boredom, job dissatisfaction.
- If they become too specialised, risk of unemployment.
What are advs of division of labour to the business?
-Efficiency increases, as workers more experienced.
- Production time decreases since workers don’t need to move stations.
What are the disadvs of division of labour to the business?
-Boredom may cause high turnover rate/ absences.
- Less flexibility, of absent, no one can replace.
- One stage breaks down, then all break down after.
What is land as a FoP?
- Land to locate factories/ shops/ car parkings.
- Natural resources + materials.
What is labour as a FoP?
- Workforce, human capital.
What is capital as a FoP?
- Artificial resource.
- Machinery
