Q
Nature of Production
(a) Input (factors of production) throughput (production process) output (finished goods
and services).
(b) Production Methods: (job production, batch production, flow production and cell
production).
(c) Location of Production (quantitative factors including site cost, transport cost, labour
cost, revenue cost, qualitative factors including infrastructure, environmental and
planning consideration, management preferences).
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Answer
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Step 1(a) The relationship between inputs (factors of production), throughput (production process), and output (finished goods and services) can be described as follows:
Step 2: Define the inputs (factors of production) as the resources used in the production process.
These can be categorized into four main types: land, labor, capital, and entrepreneurship.
Final Answer
(a) The relationship between inputs, throughput, and output can be summarized as follows: Inputs (factors of production) + Throughput (production process) = Output (finished goods and services). (b) The four main types of production methods are job production, batch production, flow production, and cell production. (c) The location of production is influenced by a variety of quantitative and qualitative factors, including site costs, transport costs, labor costs, revenue costs, infrastructure, environmental and planning considerations, and management preferences.
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