Production, Costs and Revenue 0.0 / 5 ? EconomicsProduction and efficiencyASAQA Created by: alexgregory123Created on: 18-12-15 12:28 Define productivity Ouptut per unit of input. 1 of 6 Difference between labour and capital productivity? Per person / per unit of capital 2 of 6 What is a productivity gap? The difference between labour productivity of the UK and other developed countries. 3 of 6 What is the difference between short run and long run? Short run is where FOP are fixed and long run they are all variable 4 of 6 What is specialisation? Specialisation is when a business or economy focuses on producing a select range of products. 5 of 6 What is division of labour? When the production line is split between workers who become experts at their one task. 6 of 6
Comments
No comments have yet been made