Principles of Business: Production and Cottage Industry

Production in the ‘developed world’ is characterised by a greater reliance on equipment than labour. This can BEST be defined as?

• Mechanisation

• Automation

• Capital-intensive production

• Labour-intensive production

Which factor of production is fixed in supply?

• Land

• Labour

• Capital

• Entrepreneurship

Which factor of production is created in the production process?

• Land

• Labour

• Capital

• Entrepreneurship

Identify the level of production: Food crops, eggs and milk being sold to the national market.

• Subsistence production

• Domestic production

• Export production

• Lean production

Identify the level of production: A family growing their own fruits and vegetables.

• Subsistence production

• Domestic production

• Export production

• Primary production

Identify the level of production: Architectural or engineering services for major overseas projects

• Subsistence production

• Domestic production

• Export production

• Secondary production

Identify the level of production: Providing goods for the international market

• Subsistence production

• Domestic production

• Export production

• Secondary production

Identify the sector of production: Construction Industry

• Primary production

• Secondary production

• Tertiary production

• Quaternary production

Identify the sector of production: Bauxite mining in Jamaica or Guyana

• Primary production

• Secondary production

• Tertiary production

• Quaternary production

Identify the sector of production: Constructing garments and clothing

• Primary production

• Secondary production

• Tertiary production

• Quaternary production