Production

Economics

Production

Production

Production is the act of creating, making, or manufacturing something from raw materials.

Productivity

Productivity is efficiency, that is, how well the business is using all its resources. In other words, it measures how efficiently production inputs, such as labour and capital, are being used in an economy to produce a given level of output.

Poll

Production is the creation of products using raw materials whilst Productivity measures how efficiently resources are being used.

• True

• False

Factors of Production

Resources or inputs that are used in the production process.

Factors of Production

• Land (Natural Resources) as a factor of production includes not only the land itself but all-natural resources found in the earth and sea. 

Factors of Production

• Labour (Human Resource) is the factor of production which is people physical and mental contribution to the creation of goods and services.

Factors of Production

• Capital (Man-made Resource) is the money and all other assets which are employed in the process of production

Factors of Production

• Entrepreneur/Enterprise are those who organize and coordinate the other factors of production.

CELL

CAPITAL, ENTERPRISE,LAND and LABOUR.

Multiple Choice

What does CELL stand for?

• Electronic

• Capital, Enterprise, Land and Labour

• Concrete, cement

• Capital , Emotions, Land and Liquidity.

Multiple Select

Land as a natural represents which of the following?

• Earth

• Sea

• Staff

• Labourers

Open Ended

If you owned a Production company, how will CELL assist you in the production process?