Shared Flashcard Set

Details

Ch17 Production Function
N/A
21
Business
11th Grade
10/03/2013

Additional Business Flashcards

 


 

Cards

Term
Production process (P.208)
Definition
changes raw meteral into final goods and services
Term
Mass Production (P.208)
Definition
Products move through a production line from beginning to end. All products are the same.
Term
Batch Production (P.208)
Definition
One Product or group is finished before the next one is started.
Term
Job Production (P.208)
Definition
Each product is specific and unique and is made to order.
Term
Routing (P.212)
Definition
Determining the best cheapest sequence of operations
Term
Scheduling (P.212)
Definition
Working out time required to perform each production task
Term
Loadaing (P.212)
Definition
Assigning work to workers or machines
Term
Work Place Safety Policy (P.215)
Definition
Which stipulates conditions, Precautions and procedures related to their business and equipmet
Term
Occupational Health And Safety (P.215)
Definition
Outlines the health and safety roles and responsibilities of employer,employees manufactures, designers, importers, suppliars
Term
Quality Management System (P.218)
Definition
Framework that a business uses to manage key processes and ensure they meet the correct standards
Term
Quality Control (P.218)
Definition
Inspecting the final product to ensure it meets the required standards
Term
Quality Assurance (P.218)
Definition
Processes carried out during and after the production process to ensure required standards have been met at every stage of the process
Term
SABS (P.218)
Definition
South African Bureau of standards promotes and maintains standards in South Africa
Term
Output Units (P.224)
Definition
A Number of units produced
Term
Fixed Costs (P.224)
Definition
costs that d not change when number of output units change
Term
Variable costs (P.224)
Definition
Costs that change when the number of output units change
Term
Total Costs (P.224)
Definition
Fixed and variable costs
Term
Total Revenue (P.224)
Definition
Money received before selling goods before costs are paid.
Term
Selling price (P.224)
Definition
The price that a customer pays for a unit
Term
Profit (P.224)
Definition
The amount of revenue made after deducting costs from revenue
Term
Break Even Point (P.224)
Definition
The point where the revenue and costs are equal.
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