ENTREPRENEURSHIP REVIEW

What are the 4M's of business operation?

• Manpower

• Machine

• Materials

• Mass production

It talks about human labor force involved in the manufacture of products.

• Manpower

• Machine

• Material

• Method

It simply refers to the raw materials necessary in the production of a product.

• Manpower

• Machine

• Material

• Method

It is about manufacturing equipment used in the production of goods or

delivery of services.

• Manpower

• Machine

• Material

• Method

It is the process or way of transforming raw materials

to finished products.

• Manpower

• Machine

• Material

• Method

The Three Important Elements in the Production System except.

• Input

• Output

• Production

  Process

• Plan

The ______ is the physical output of the whole production process.

• Product

• Input

• Process

• Output

A __________ has dissimilar characteristics, parts, and physical appearance.

• Heterogeneous product

• Homogeneous product

A __________ has a physical appearance, taste, or chemical content that can hardly be distinguished from that of the other products.

• Heterogeneous product

• Homogeneous product

It is a result when sales exceed the cost to produce goods or render the services.

• Revenue

• Mark up

• Selling Price

• Cost