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WHS PoBF 4.03A
LAP OP 17
| Term | Definition |
|---|---|
| Assembly line | A production method in which the product moves past workers who each do one assigned production task |
| Automation | A method of operating or controlling a process in which tasks are completed by automatic means, such as technology, reducing human effort and labor |
| Batch production | The production of items in specific amounts, or batches |
| Capital goods | Manufactured or constructed items that are used to produce goods and services |
| Capital-intensive process | A conversion process that depends on the use of equipment |
| Consumer goods | Tangible items produced for personal use |
| Continuous production process | A production process that turns out products without stopping |
| Conversion process | The process of turning economic resources into products |
| Crowdfunding | The process of raising funds from a large group of people, usually via the Internet |
| Dispatching | Issuing orders for production to start |
| Factors of production | Productive resources; human and natural resources and capital goods |
| Financial capital | Money needed to operate a business |
| Form utility | Usefulness created by altering or changing the form, shape, or look of a good to make it more useful or attractive to the end user |
| Goods | Tangible objects that can be manufactured or produced for resale |
| Human resources | People who work to produce goods and services |
| Industrial goods | Tangible items that will be consumed by industrial users |
| Inputs | The specific economic resources used in producing goods and services |
| Intangible | Having no physical presence |
| Intermittent production process | A production process in which production periodically stops and then restarts |
| International Organization for Standardization (ISO) | A non-governmental organization that develops and publishes standards for business, government, and society |
| Labor-intensive process | A production process that relies heavily on the skills of workers |
| Mass production | The rapid production of large quantities of a product |
| Natural resources | Items that are found in nature and used to produce goods and services |
| Outputs | The goods and services produced as the result of combining inputs |
| Production | The creation of goods and services from economic resources |
| Production planning | Determining how products will be produced and in what amounts |
| Production process | The way in which production is carried out |
| Purchasing | Buying the resources needed for production |
| Robotics | A mass production technique in which robots carry out the repetitive tasks that workers would find monotonous and tiring |
| Routing | The production activity that determines the sequence for the steps in the production process |
| Scheduling | The production activity that establishes the timetable to be followed in production |
| Services | Intangible activities that are performed by other people for money; productive acts that satisfy economic wants |
| Tangible | Capable of being touched, smelled, tasted, seen, or heard |
| Unit production | The production of one item at a time or items in small quantities |
Created by:
VNelsonWHS
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