Production

Question 1

Define production

Answer 1

It’s a process that intrapreneurs organize to combine the scarce resources of land, labor, and capital to make goods and services to satisfy consumer once

Question 2

What are the 3 stages of production?

Answer 2

The primary stage, the secondary stage, and the tertiary stage
AKA
1. (Extractive)
2. (Manufacturing)
3. (Service stage)

Question 3

What is specialization by product

Answer 3

When a worker becomes an expert in a particular professional job

Question 4

Name, advantages of division of labour

Answer 4

1. More goods and services can be produced
2. Full uses made of employees abilities.
3. Time is saved.

Question 5

Name some disadvantages of division of labour

Answer 5

1. Work me become boring.
2. Workers me feel alienated.
3. Production process may become over specialized.
4. Workers may become deskilled in other areas.

Question 6

What is meant by the term ‘division of labor’

Answer 6

Every employee is designed a task or job. This is also known as a production process.