Production Procese ➡️➡️➡️➡️➡️➡️➡️✔️❗️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️🔷 Flashcards

1
Q

Labour

A

The work that is done by labourers (workers)

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2
Q

Capital

A

Money or property that can be used to make more money such as land example factory buildings trucks equipment

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3
Q

Entrepreneurship

A

Is starting the business and making important decisions and managing the business

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4
Q

Production terms start now

What is input

A

Factors of production the things you put in to make a product

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5
Q

Output

A

The final good or service produced

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6
Q

What is quality

A

The standard of what is produced

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7
Q

Quantity

A

The amount produced

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8
Q

Efficiency

A

Producing with the least waste of effort and time

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9
Q

Produce

A

The make something

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10
Q

Product

A

The good or service that has been produced

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11
Q

What is a raw material

A

Natural resources or man made resources

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