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- Multiple ChoicePlease save your changes before editing any questions.
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
- Multiple ChoicePlease save your changes before editing any questions.
Which of these is a service?
jogging shoes
plumbing
readymade dress
birthday cake
- Multiple ChoicePlease save your changes before editing any questions.
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
- Multiple ChoicePlease save your changes before editing any questions.
Which of these isn't a method of improving productivity?
employing more staff
providing pay incentives
investing in up-to-date machinery
training staff
- Multiple ChoicePlease save your changes before editing any questions.
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
- Multiple ChoicePlease save your changes before editing any questions.
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
- Multiple ChoicePlease save your changes before editing any questions.
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
- Multiple ChoicePlease save your changes before editing any questions.
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%
- Multiple ChoicePlease save your changes before editing any questions.
Which one of the following is NOT a factor of production?
land
table
capital
enterprise
- PollPlease save your changes before editing any questions.
How do you rate this acivity?
Excellent
Very Good
Good
Satisfactory