Unit 3

Question 1

Productivity

Answer 1

A measure of how much a business produces in a given time

Question 2

The three things about Productivity?

Answer 2

1) The output of each worker per unit of time

2) Used to measure and improve employee performance

3) How efficiently and effectively work is done

Question 3

Specialization

Answer 3

entails focusing on a narrow area of knowledge or skill or activity

Question 4

What do workers do in a Specialization?

Answer 4

A workers performs one task within an operation

Question 5

Division of Labor

Answer 5

dividing the production process into a number of simpler tasks

Question 6

Quality Control

Answer 6

process by which employees review the quality of all factors involved in production process

Question 7

What does Quality Control do?

Answer 7

Develop a process to improve and stabilize production and minimize defects

Question 8

Labor

Answer 8

any human activity that provides goods and services in an economy.

Question 9

Types of Labor

Answer 9

1. Organized Labor / Union
2. Collective Bargaining

Question 10

Collective Bargaining

Answer 10

the process of negotiating the terms of employment between and employer and a group of workers

Question 11

Organized Labor / Union

Answer 11

an association of workers unite for the purpose of improving the workers’ economic status and working conditions

Question 12

What is Organized Labor also called?

Answer 12

Union

Question 13

The Law of Diminishing Returns

Answer 13

as the number of new employees increases, the effect of an additional employee will at some point be less than the effect of the previous employee

Question 14

The Economies of Scale

Answer 14

the increase in efficiency of production as the number of goods being produced increases