Checkup 2 Flashcards
Two production characteristics that contribute to PRODUCTION COMPLEXITY
diversification, specialization
Two production characteristics that contribute to PRODUCTION COST SAVINGS
simplification, standardization
Two types of production simplification
reduction in the number, variety, or complexity of products produced; elimination of work procedures
The production characteristic that will most likely BROADEN a manufacturer’s market is
diversification
The production characteristic that will most likely minimize inventory of RAW MATERIALS is
standardization
A series of LIMITED TASKS is associated with
specialization
Production diversification means the _________, _________________, or ______________ of products manufactured is increased.
variety, complexity, number
The production of by-products is a form of _______________________.
diversification
Production diversification is probably more expensive than __________________ or ____________________.
simplification, standardization
A manufacturer may be forced to diversify because of ________________.
competition
Five elements of the production process that management seeks to standardize are:
work procedures, tools, equipment, materials, and products
Production ___________________ will usually wield a wider range of product prices
diversification
Production ____________________ may be achieved by producing products of varying sizes, colors, and quality
diversification
Production ________________ usually requires less production control than production characterized by ____________________.
simplification; specialization
The cost savings produced by production simplification _________________ the manual facturer a profit. (guarantees, doesn’t guarantee)
doesn’t guarantee
