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Production Methods

Production is about creating goods and services

Job production where items are made individually and each item is finished
before the next one is started. Designer dresses are made using the job
production method.

Batch production where groups of items are made together. Each batch is
finished before…

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Demand is the amount of a product customers are prepared to buy at different
prices.

Supply is the amount of a product businesses are prepared to sell at different
prices.

The goods market is where everyday products such as DVDs are traded.

The market is commodities where raw materials such…

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Lower prices, if prices continue to rise, it will increase inflation
Economic growth, producing more goods and services each year so there is a higher
standard of living

The government can change the way businesses work and influence the economy either
by passing laws

Extra government spending or lower taxes…

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Economic activity is the amount of production taking place.

Over time, the level of economic activity in a country tends to move up and
down/fluctuates in a business cycle.

In a downturn or slump output falls and many businesses shed staff because
sales are falling. The economy experiences recession.

In…

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