Unit 4 Key Terms Flashcards
1
Q
Labour intensive
A
Operations process involving high proportion of employees
2
Q
Capital intensive
A
Operations process involving high proportion of capital equipment, automation and robotics
3
Q
Supply chain
A
A series of activities involved in taking initial resources to providing the final product
4
Q
Total costs
A
Fixed costs + variable costs
5
Q
Unit costs
A
Cost per unit
6
Q
Capacity
A
Maximum output of a business at a moment in time
7
Q
Capacity utilisation
A
Measures the existing output over a given period as a percentage of maximum output
8
Q
Labour productivity
A
The amount of output per employee
