Production 5 Flashcards
1
Q
6 types of natural resources
A
-Agriculture
-Fishing/trapping
-Mining
-water
-Fuel/energy
-Logging/forestry
2
Q
6 factors or production
A
-Raw materials
-Natural materials
-Labour
-Capital
-Management
-Information
3
Q
2 types of capital
A
Human & Financial
4
Q
Human capital
A
Economic value of a workers experience and skills
5
Q
Financial capital
A
Economic resources measured in terms of money used by entrepreneurs
6
Q
4 stages of production process
A
Organizing
Purchasing
Processing
Quality control
7
Q
4 ways of improving productivity
A
-Quality control
-Process control
-Performance measurements
-workload
