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WorksheetsProduction
Total questions: 91
Worksheet time: 2hrs 58mins
Which of the following is a key disadvantage of a sole trader business?
Lack of personalized service
Unlimited liability
Quick access to large captial
Easy transfer of ownership
Which of the following is a characteristic of a cooperation?
one owner, one vote
Profit-sharing according arrangements in a partnership
Equal voting rights regardless of investment
Direct control by shareholders
Land includes...
The "gifts of nature" or natural resources not created by human effort.
the tools, equipment, and factories used in production of goods and services
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
Capital refers to...
The "gifts of nature" or natural resources not created by human effort.
people with all their efforts and abilities
the tools, equipment, and factories used in production of goods and services
individuals who start a new business or bring a product to market.
Labor refers to...
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
the tools, equipment, and factories used in production of goods and services.
The "gifts of nature" or natural resources not created by human effort.
Entrepreneurs are...
people with all their efforts and abilities
individuals who start a new business or bring a product to market.
The "gifts of nature" or natural resources not created by human effort.
the tools, equipment, and factories used in production of goods and services
the sum of fixed and variable costs
total revenue
marginal revenue
marginal costs
total costs
costs that business owners incur no matter how much they produce
variable
fixed
total
marginal
costs that depend on the level of production output
total
fixed
variable
marginal
the extra cost of producing one more unit
variable costs
total costs
marginal revenue
marginal cost
Which of the following is a variable cost in the short run?
rent of the factory
wages paid to factory workers
interest payments on borrowed financial capital
salaries paid to upper management
It is a period of time in which the the quantity of at least one input is fixed and the quantities of the other inputs can be varied.
Long run
Short run
Long term
Short term
The marginal cost of production from 3 to 4 labors is _________.
2
7
4
8
Kelly makes and sells quilted blankets out of her home. She charges $50 per blanket. For each blanket she makes, she must spend $1 on thread, $2 in electricity and $12 on cloth. This month she made and sold 15 blankets. What is Kelly's total cost?
$25
$225
$375
$750
Which curve is represented by A
Marginal cost curve
Average total cost curve
Average fixed cost curve
Average variable cost curve
What are levels of production?
Primary Production
Producing at the secondary level
The amount of goods produced
Producing only enough to meet the basic needs of the family is called?
Domestic Production
Subsistence Production
Surplus Production
This level of production allows a country to earn foreign exchange from the selling of its products.
Subsistence Production
Domestic Production
Surplus/Export Production
Selling goods at your local market is which level of production?
Domestic Production
Export/Surplus Production
Subsistence Production
This picture BEST shows which level of production?
Domestic Level
Subsistence Level
Surplus/Export Level
If Jamaica is able to produce enough goods to satisfy the needs of persons in the country, Jamaica is practicing which level of production?
Domestic Production
Export Production
Subsistence Production
When China sells its products to other countries, this is which level of production?
Subsistence Level of Production
Domestic Level of Production
Surplus/Export Level of Production
A business or manufacturing activity carried out in people's homes is called...
A Small Business
A Medium Enterprise Business
A Cottage Industry
A Limited Company
Who was the Lowell factory system named for
Francis Cabot Lowell
Samuel Morse
Benjamin Franklin
Work from home
Factory System
Cottage Industry
small scale
Factory System
Cottage Industry
work in factory
Factory System
Cottage Industry
mass production
Factory system
Cottage Industry
Much Faster
Factory System
Cottage Industry
by machine
Factory System
Cottage Industry
Slow and inefficient
Factory System
Cottage Industry
by hand
Factory system
Cottage Industry
big cities
Factory system
Cottage Industry
sold all over
Factory system
Cottage Industry
small farms
Factory System
Cottage Industry
sold only locally
Factory system
Cottage Industry
before the Industrial Revolution
Factory System
Cottage Industry
During and After the Industrial Revolution
Factory System
Cottage Industry
Made in one central location
Factory system
Cottage Industry
Which of the following is NOT true with production process
firms adding value to a product
transforming raw materials into finished goods
provision of a product or service
providing only a product, not service
Which of these is a service?
jogging shoes
plumbing
readymade dress
birthday cake
What does productivity mean?
productivity is how products are made
productivity is a measure of how many workers a business has
productivity measures efficiency
productivity measures effectiveness
Which of these isn't a method of improving productivity?
employing more staff
providing pay incentives
investing in up-to-date machinery
training staff
Which of the following statements is correct?
the level of production is the total number of goods produced per worker
productivity can be measured by output per worker in a given time period
increasing production leads to increased productivity
reducing productivity per worker will increase the number of workers
One of the benefits of increasing productivity is:
more workers will be employed
total production will increase with the same number of workers
average costs will stay the same
fewer raw materials will be needed to produce the same level of output
Labour productivity could be increased by all of the following except:
using more technologically advanced machines
increasing the amount of automation
improved training of workers
employing more workers to produce the same level of output
Which of the following is the best definition of 'an increase in efficiency'?
higher output levels than last year
lower total costs of production
fewer workers employed but output level remains the same
10% more workers employed and output also rises by 10%
Which one of the following is NOT a factor of production?
land
table
capital
enterprise
Continuous production of identical products, therefore giving scope for high levels of automation
Job production
Productivity
Flow production
Batch production
Producing a limited number of identical products
Flow production
Batch production
Productivity
Job production
A measure of efficiency, measured as output per person in a particular time period
Productivity
Automation
Product quality
Competitive advantage
One-off production of a one-off item for a single customer
Quality
Competitive advantage
Batch production
Job production
An increase in morale and motivation can lead to what?
Reduction of costs
Improvements in quality
Increased productivity
Decreased productivity
A business makes 28,000 items a week and employs 35 staff.
Calculate the productivity per worker.
1500 units/week
35 units/week
800 units/week
900 units/week
Management salaries are an example of what?
Quality control
Fixed Costs
Variable costs
Material costs
The labour productivity of a business is 475 units a month. The business employs 52 staff. Calculate its total output.
24,600 units
26,800 units
24,700 units
27,600 units
What does automation mean?
Using machines that can operate without people
The development of production into batch production
Handcrafted production
Leading to a fall in quality
The ability to switch quickly and easily from one task to another
Flexibility
Quality
Flow production
Batch production
Which method of production is often the most time consuming?
Job
Batch
Flow
Which method of production normally allows you to charge the cheapest price?
Batch
Flow
Job
Which method of production uses the most highly skilled workers?
Flow
Job
Batch
Which method of production allows you to change the flavour/design of the product?
Job
Flow
Batch
Which method of production would be used to design/build a bridge?
Flow
Batch
Job
Which method of production allows a business to get a bulk buying discount?
Batch
Flow
Job
Continuous production of identical products, therefore giving scope for high levels of automation
Job production
Productivity
Flow production
Batch production
Which will most likely lead to an increase in productivity?
Investing in the most up-to-date machinery
Reducing the number of skilled workers
Employing more unskilled production line workers
Cutting back on the amount of staff training
Through the use of new technology, a business can boost what?
Production
Produce
Profit
Performance
Which option is not a benefit of technology?
Producing the right quantity at the right time
Producing to high standards of consistency and quality
Producing to high standards of inconsistency and quality
Producing cost efficiently
A factor of production is an _________ in the production process.
ingredient
input
item
output
All of the following are considered to be factors of production EXCEPT?
products
labour
land
enterprise
Capital as a factor of production is sometimes referred to as:
entrepreneurship
man-made resources
human resources
natural resources
Which of the following formulas can be used to calculate productivity?
Productivity = Output/input
Productivity = input/output
Productivity = Number of employees/output
Productivity = Output + input/number of employees
Nicholas Superior Cricket Bats Limited produces 1200 cricket bats per week with a production staff of 20 employees. What is the labour productivity of the business?
60
300
1180
24000
Which of the following products is likely to be made using job production?
Heinz baked beans
Cadburys Dairy Milk
Land Rover car
Made to measure wedding dress
Select all the ways that a business could improve productivity
Reduce number of employees
Increase training
Introduce machines
More managers
The role of the operations manager is to
be responsible for the production of the business’s product, whether it is a manufactured good or the provision of a service.
be responsible for the production of the business’s staff when producing a good or service.
be responsible for the production of the business’s competitive stance within a market, whether it is a manufactured good or the provision of a service.
Operations management refers to
The effective management of the process of transforming inputs into outputs and maximising the efficiency and effectiveness of the production process to meet business objectives.
The effective management of the process of transforming new staff into experts and maximising the efficiency and effectiveness of the production process to meet business objectives.
The effective management of the process of transforming a service and maximising the efficiency and effectiveness of the production process to meet business objectives.
The effective management of the process of transforming the butterfly to the penguin maximising the efficiency and effectiveness of the production process to meet business objectives.
Which of the following is an advantage of job production relative to other production methods?
Unit costs will be lower
Production speeds are faster
Workers may be better motivated
Fewer resources are needed
Which of the the following products is likely to be made using batch production?
Mobile phones
Toilet paper
Petrol
Clothes
