INDUSTRIAL ECOLOGY_LESSON 2 (PRODUCTION SYSTEM) Flashcards
What is production?
It is a method employed for making or providing essential goods and services for consumers.
What are the three main components of a production system?
INPUT – CONVERSION PROCESS – OUTPUT
What is included in the input of a production system?
These are the raw materials, man, capital, energy, and information.
What is included in the output of a production system?
These are the finished products, services.
What does the conversion process involve?
It includes operation (either manual, mechanical or chemical).
What are the supporting activities in the conversion process?
PRODUCTION PLANNING AND CONTROL, PURCHASE OF RAW MATERIALS, INSPECTION OF PARTS AND WORK-IN-PROGRESS, TESTING OF PRODUCTS, QUALITY CONTROL.
What are the factors of production?
NATURE (FORMER LAND), LABOR, CAPITAL, ENTERPRISE.
What is the significance of nature in production?
It is impossible to carry out production without land, water, and other resources.
What is the role of labor in production?
Human efforts is a necessary factor for production.
What is capital in the context of production?
Generally, refers to Money.
What is not considered a factor of production?
MONEY.
What are the two types of capital?
PRIVATE AND PERSONAL.
What is enterprise in production?
The activity that combines all the other factors of production into a product or service for consumer market.
What are the four types of production systems?
UNIT OR JOB PRODUCTION, BATCH PRODUCTION, MASS PRODUCTION, CONTINUOUS OR PROCESS PRODUCTION.
What is unit or job production?
Most commonly observed when you need to produce one single unit of a product at a time.