Production, productivity and efficiency

Methods of production used by business include job, flow, batch and cell production. A key goal for any business will be increasing their productivity, calculated by output divided by input (and not to be confused with total production), as this will help them to reduce their costs per unit and improve competitiveness. Efficiency is about making the best possible use of resources and a key consideration in doing this is to get the balance right between labour intensive and capital intensive production.

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[drmoezawaung]

i have been learning about labour costs. this is the best tutorial.

[VVHFX]

Excellent explanation of the concepts.

[rivlry]

I agree with your maths, but how do you deal with a system that says 1000 parts per hour and it really being 40 parts per hour.

[JaiPHANGURHA]

Could you also mention external influences as a method to increase productivity? For instance, the government cutting income tax; this now provides an incentive for the already economically active to work harder, so they can bargain for higher wages, and therefore keep more of their incomes as disposable income. Or would this approach only be suited to A Level Econ?

[lethuy]

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[ngoctampham]

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