Understand Business Management

Define Production

• The quantity, or amount, produced within a given time

• Making a product or providing a service

• The major on going activities of a business

• The people involved in production

Define Human Resources

• The people involved in production

• The resources used to produce a product or service.

• Resources provided by nature

• The buying of goods and services for a business

Define Purchasing

• Productive resources; human and natural resources and capital goods

• The major ongoing activities of a business

• Money, buildings, tools, and machines necessary for production

• The buying of goods and services for a business

Define Entrepreneurship

• Using/combine Factors of Production resources to create a new product or services

• People who work to produce goods and services

• The economic process or activity of producing goods and services

• Any resource found in nature that is used to produce goods and services

Manufactured or constructed items that are used in the production of goods and services is?

• Capital Goods

• Production

• Natural Resources

• Scarcity

A condition resulting from the gap between unlimited wants for goods and services and limited resources is?

• Dispatching

• Mass Production

• Scarcity

• Intermittent Production

Define Dispatching

• Issuing orders for production to start

• A production process that periodically stops and then restarts

• A production process that turns out products without stopping

• Producing products in large quantities

Define Batch Production

• Producing products in large quantities.

• Producing one item at a time or items in small quantities

• Producing items in specific amounts, or batches. It is often used to meet specific or short-term market needs

• A production process that periodically stops and then restarts

A production process that turns out products without stopping is?

• Production Process

• Continuous Production

• Intermittent Production

• Unit Production

Define Sales

• Items are offered at a lower price than normal

• Presented at the time of purchase to get money

  taken off the purchase price

• When manufacturers give back a fixed amount of money

• Buying the resources needed for production