Production of Goods and Services

Choose one method of lean production.

• Job production

• Niche market

• Just in time

Choose the purpose of lean production.

• Increase speed of production

• Minimize errors and waste

• Improve morale of workers

• Increase variety of goods produced

Fill in the blanks for the type of marketing that aims to satisfy a specific group of people.

What is the best way to improve productivity of the workforce?

• Introduce AI to replace tasks of all workers

• Train workers regularly

• Increase wages and benefits of workers

• Introduce AI, regularly train workers and raise wages of highly performing workers

Name the production method that is

highly capital intensive and manufactures standardized output.

Identify the benefits of batch production.

• Economies of scale can be achieved

• Goods can be produced one at a time

• Consumers enjoy variety of goods

• Cheap labour cost

Name the term used to refer to decreasing average costs per unit.

Who is involved in controlling operations of a factory?

• Manager

• Director

• Worker

• CEO

Choose the best way to reward doctors in hospitals.

• Improving working condition

• Increasing wages

• Enlarging their tasks through promotions with an increase in wages

What is the measure used to evaluate workers' productivity?

• Key Performance Index (KPI)

• Total Quality Management (TQM)

• Gross Domestic Product (GDP)

• Human Development Index (HDI)