Production Flashcards
what is batch production?
a method that involves completing one operation at a time before moving onto the next
what is capital intensive?
makes more use of machinery relative to labour
what is capital productivity?
the amount of capital each unit of capital produces
what is division of labour?
the specialisation of a specific task or skill
what is downsizing?
reducing capacity usually by laying off staff
what is efficiency?
when a level of output where average cost is minimised
what is flow production?
large scale production of a standard product, where each operation on a unit is performed continuously
what is job production?
a method of production that involves employing all factors to complete one unit
what does kaizen mean?
a Japanese term meaning to continuously improve
what is labour intensive?
when a business uses more labour than machinery
what is labour productivity?
the amount of labour each unit produces
what is outsourcing?
giving work to sub contractors
what is lean production?
this focus one the reduction of resource use
what is production?
the resource transformation to goods/services
what is specialisation?
the production of a limited range of goods
