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What is known as the efficient production of large numbers of identical goods?
Wiki User
∙ 10y ago
Mass production.
Wiki User
∙ 10y ago
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What was an advantage of assembly lines?
They were a fast and efficient way of producing things
Why does a production possibilities curve have a bowed-out shape?
The PPF is bowed outwards (concave to the origin) as tradeoffs between the production of any two goods are constant.
What is a production possibility frontier curve?
Basically the PPC represents the hypothetical amount of two different goods that could be obtained by using resources from the production of one for the production of the other. It also describes society's choice between two different goods. When a point is on the curve it means all the resources for those goods is at full employment, anything under the curve is at under-employment, and anything beyond the curve indicates potential growth.
What conditions are necessary for production of labor-intensive commodities?
Labor-intensive commodities, such as clothing, shoes, or other consumer goods, are produced in countries that have relatively low labor costs and relatively modern production facilities. China, Indonesia, and the Philippines are examples
How did Romans use numbers in everyday life?
Telling time, counting goods, counting money.
What is the making of goods in large numbers is called what production?
in large qualitities
What of these describes the law of comparative costs?
Countries with the most efficient factors of production could produce the most profitable goods.
The role of a producer?
the role of producers are organizing business activities supply of various goods efficient utilization of different factors of production expand the demands for various factors of production
Which of the following statements best explains how using a production possibilities frontier helps setup efficient production?
A PPF shows the maximum amount of goods that can be produced with a given set of inputs
What best explains how using a Production Possibilities Frontier PPF helps set up efficient production?
A PPF shows the maximum amount of goods that can be produced with a given set of inputs.
Which best explains how using a production possibilities frontier (PPF) helps set up efficient production?
A PPF shows the maximum amount of goods that can be produced with a given set of inputs.
Which statements best explains how using a production possibilities frontier helps set up efficient production?
Answer this question… A PPF shows the maximum amount of goods that can be produced with a given set of inputs.
How did mass production make economic boom?
It allowed large numbers of goods to be produced quickly and inexpensively
What impact did technological advances have on the production goods?
production of goods was increased
Explain Operations research in production planning and inventory control?
Operations management is an area of business that is concerned with the production of good quality goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. It is the management of resources, the distribution of goods and services to customers.The task of production and operations management is to manage the efforts and activities of people, capital, and equipment resources in changing raw materials into finished goods and services.
What goods used in the production of final goods?
Intermediate Goods
What is the ojective of a production department?
The production departments objective is to consistently produce goods to the quality that the customer expects, on time and in the numbers the business requires. The production departments produce goods and takes care that they are producing the right amounts of goods and their production is good for the sale. They also check the quality of the products. They arrange things and they buy the raw materials for the products. They also take care that the equipments and the machine are in right order.
