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WorksheetsUnit 4 Production IGCSE Business 0450
Total questions: 33
Worksheet time: 17mins
What is:
the output measured against the inputs used to create it
Productivity
Productivity Formula
Labor Productivity Formula
Buffer Inventory Level
What is:
Quantity of output / Quantity of input
Productivity
Productivity Formula
Labor Productivity Formula
Buffer Inventory Level
What is:
Output over a given period of time / number of employees
Productivity
Productivity Formula
Labor Productivity Formula
Buffer Inventory Level
What is:
inventory held to deal with uncertainty in customer demand and deleveries of supplies
Productivity
Productivity Formula
Labor Productivity Formula
Buffer Inventory Level
What is:
to produce a good service which meets customer expectations
Lean Production
Kaizen
Just-In-Time (JIT)
Quality
What is:
the techniques used by the business to cut down waste and therefore increase efficiency, for example, by reducing the time it takes for a product to be developed and become available for sale
Lean Production
Kaizen
Just-In-Time (JIT)
Quality
What is:
a Japanese term meaning 'continuous improvement' through the elimination of waste
Lean Production
Kaizen
Just-In-Time (JIT)
Quality
What is:
a production method that involves reducing or virtually eliminating the need to hold inventories of the finished product. Supplies arrive just at the time they are needed
Lean Production
Kaizen
Just-In-Time (JIT)
Quality
What is:
the continuous improvement of products and processes by focusing on quality at each stage of production
Job Production
Batch Production
Flow Production
Total Quality Management (TQM)
What is:
where a single product is made at a time
Job Production
Batch Production
Flow Production
Total Quality Management (TQM)
What is:
where a quantity of one product is made, then a quantity of another item will be produced
Job Production
Batch Production
Flow Production
Total Quality Management (TQM)
What is:
where large quantities of a product are produced in a continuous process. It is sometimes referred to as mass production
Job Production
Batch Production
Flow Production
Total Quality Management (TQM)
What is:
where computers monitor the production process and control machines or robots on the factory floor
Automation
Mechanisation
Computer Aided Design (CAD)
Computer Aided Manufacture (CAM)
What is:
a computer software that draws items being designed more quickly and allows them to be roatated to see the item from all sides. It is used for designing new products or re-styling existing ones
Automation
Mechanisation
Computer Aided Design (CAD)
Computer Aided Manufacture (CAM)
What is:
where production is done by machines but operated by people, e.g. printing press.
Automation
Mechanisation
Computer Aided Design (CAD)
Computer Aided Manufacture (CAM)
What is:
where equipment used in the factory is controlled by a computer to carry out mechanical processes, e.g. spraying paint on a car. The production line will consist mainly of machines and there are only a few people needed to ensure everything runs smoothly
Automation
Mechanisation
Computer Aided Design (CAD)
Computer Aided Manufacture (CAM)
What is:
used at checkouts where the operator scans the bar code of each item.
Electronic Point of Sale (EPOS)
Electronic Funds Transfer at Point of Sale (EFTPOS)
Quality Control
Quality Assurance
What is:
the checking for the quality standards throughout the production process, whether it is the production of a product or service
Electronic Point of Sale (EPOS)
Electronic Funds Transfer at Point of Sale (EFTPOS)
Quality Control
Quality Assurance
What is:
the checking for quality at the end of the production process, whether it is the production of a product or service
Electronic Point of Sale (EPOS)
Electronic Funds Transfer at Point of Sale (EFTPOS)
Quality Control
Quality Assurance
What is:
where the electronic cash register is connected to the retailer's main computer and also to banks over a wide area computer network.
Electronic Point of Sale (EPOS)
Electronic Funds Transfer at Point of Sale (EFTPOS)
Quality Control
Quality Assurance
What is:
the total cost of production divided by the total output. Also known as unit cost
Fixed Costs
Variable Costs
Total Costs
Average Cost per Unit
What is:
fixed costs + variable costs
Fixed Costs
Variable Costs
Total Costs
Average Cost per Unit
What is:
costs which vary directly with the number of items sold or produced
Fixed Costs
Variable Costs
Total Costs
Average Cost per Unit
What is:
costs which do not vary with the number of items sold or produced in the short run. They have to be paid whether the business is making any sales or not. They are also known as overhead costs
Fixed Costs
Variable Costs
Total Costs
Average Cost per Unit
What is:
graphs which show how costs and revenues of a business change with sales. They also show the break-even level of output
Economies of Scale
Diseconomies of Scale
Break-Even Level of Output
Break-Even Charts
What is:
the quanity that must be produced/sold for total revenue to equal total costs
Economies of Scale
Diseconomies of Scale
Break-Even Level of Output
Break-Even Charts
What is:
the factors that lead to an incease in average costs as a business grows beyond a certain size
Economies of Scale
Diseconomies of Scale
Break-Even Level of Output
Break-Even Charts
What is:
the factors that lead to a reduction in average costs as a business increases in size
Economies of Scale
Diseconomies of Scale
Break-Even Level of Output
Break-Even Charts
What is:
Selling Price - Variable Costs
Revenue
Total Revenue Formula
Break-Even Point
Contribution
What is:
the level of sales at which total costs = total revenue
Revenue
Total Revenue Formula
Break-Even Point
Contribution
What is:
Quantity Sold x Price
Revenue
Total Revenue Formula
Break-Even Point
Contribution
What is:
the income during a period of time from the sale of goods and services
Revenue
Total Revenue Formula
Break-Even Point
Contribution
What is:
Total Fixed Costs / Contribution per Unit
Break-Even Formula
Total Revenue Formula
Break-Even Point
Contribution
