AS Business - Chapter 23 - The nature of operations (revision)

Operations management focuses on turning inputs into outputs (goods & services).

This requires the Factors of Production, which are:

The making of a product or service is known as

• production

• Input

• Output

• Production department

A business combines inputs to make products or services.

• True

• False

What are the resources needed to begin the production process?

• inputs

• outputs

All inputs are processed into goods or services known as

• inputs

• value-added outputs

The difference between the selling price of a product and the cost of the materials used to make it.

• inputs

• outputs

• added value

People's need or wish to buy particular goods

• demand

• update

• range

• stock

Productivity of an organization is equal to ?

• Output / Input

• output x Input

• Input / Output

• Output - Input

Due to increased productivity, workers can get ____ ?

• Punishment from employer

• Sickness

• Half of the salary

• Higher salary and reduced working hours

Which of the following factors is responsible for an increase in productivity?

• Improved raw materials

• Better technology

• Good working conditions

• All the above