Theme 2 part 2

What is productivity defined as?

• The amount of capital used in production

• Total output produced by a firm

• Output per unit of input in a given time period

• The number of workers employed

Which of the following is a factor influencing productivity?

• Technological advancements

• Weather conditions

• Government regulations

• Cultural differences

What is the link between productivity and competitiveness?

• Productivity and competitiveness are unrelated

• Higher productivity can enhance competitiveness

• Competitiveness decreases productivity

• Higher productivity leads to lower competitiveness

What is the distinction between labour and capital intensive production?

• Capital intensive uses less technology

• Labour intensive relies more on human labor

• Capital intensive relies more on human labor

• Labour intensive uses more machinery

What does capacity utilisation measure?

• Current output divided by maximum possible output as a percentage

• The number of employees in a firm

• The amount of raw materials used

• The total revenue of a firm

What is a potential implication of under-utilisation of capacity?

• Increased market share

• Increased production costs

• Higher employee satisfaction

• Lower production costs

Which of the following is a way to improve capacity utilisation?

• Reducing the workforce

• Increasing production without increasing costs

• Decreasing product quality

• Increasing prices

What is Total Quality Management (TQM)?

• A method to increase production speed

• A focus on continuous quality improvement

• A financial management technique

• A strategy to reduce employee numbers

What is the main goal of Just in Time (JIT) management?

• To increase inventory levels

• To reduce waste and increase efficiency

• To hire more employees

• To expand into new markets

How does globalisation affect world trade?

• Has no effect on world trade

• Reduces the need for international trade

• Decreases world trade as a proportion of GDP

• Increases world trade as a proportion of GDP