Business- Method of Production Definitions 0.0 / 5 ? Business StudiesPeople in businessGCSEWJEC Created by: EllN1Created on: 22-09-16 17:13 What is production? process of using resources and adding value to them to make a product or provide a service that customers want to buy 1 of 9 What is transformation? Where a set of inputs such as raw materials is turned into outputs such as finished goods 2 of 9 What is added value What the business achieves by ensuring the price of the finished good is more than the cost of the inputs 3 of 9 Job production Method used for production of specific one off items 4 of 9 Batch production Method used when many similar items are produced together. Each batch goes through one stage of the process before moving onto another 5 of 9 Flow production Method used for mass produce items that are standardised in shape, size and characteristics 6 of 9 What is division of labour? Breaking the production processes into stages with workers specialising in particular tasks 7 of 9 What is capital intensive? Where production relies heavily on machinery. Emphasis on producing large quantities 8 of 9 What is labour intensive? where production relies heavily on labour. Empahisis on quality rather than quantity 9 of 9
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