4 M's of Production

1. Educational qualifications and experience is one of the criteria in considering manpower.

• TRUE

• FALSE

2. Skills and expertise is not important in considering manpower.

• TRUE

• FALSE

3. Benefits are the reasons why customers will decide to buy the products.

• TRUE

• FALSE

4. Machine refers to the manufacturing equipment.

• TRUE

• FALSE

5. Flow of production is a continuous process.

• TRUE

• FALSE

6. The methods aspect represent the day-to-day operations of a business.

• TRUE

• FALSE

7. Training people is one of the biggest investments of an entrepreneur or a businessman/woman.

• TRUE

• FALSE

8. Whether the entrepreneur will offer products or cater services, he or she has to pinpoint a single supplier of quality raw materials and supplies.

• TRUE

• FALSE

9. Machines can be described as the "best friend" of manpower in producing goods and offering services.

• TRUE

• FALSE

Automation in industry can result in:

• increased need for tertiary services

• employment of a larger workforce

• a more skilled workforce

• increased production costs