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Production and productivity Flashcards | StudBud

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Which of the following is not a disadvantage of Division of Labour?

Formula for calculating the productivity of labour is .......

Production and productivity

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An economics quiz to recap basics of production and costs

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Questions 7

Answers

1
Formula for calculating the productivity of labour is .......
total costs / no. of employees
output / no. of employees
no. of employees / output
no. of employees / total costs
2
Which of the following is not a disadvantage of Division of Labour?
repetitive work
staff need to master many different tasks
high staff turnover
low motivation
3
Which of the following is a benefit of specialisation?
a niche market
lots of identical products
higher output
higher prices
4
Which of the following is not an advantage of increased labour productivity?
increased costs
increased profitability
increased competitiveness
increased efficiency
5
You can increase labour productivity by .......
reducing amount of machinery used in production
using a cheaper, less reliable supplier
improving workers motivation by increasing their pay
employing more unskilled workers
6
Production is the process of......
combining the 3 factors of production to make goods
transforming inputs into outputs that can be sold
process of using outputs to produce raw materials
the process of maximising utility
7
In the short run ......
no factors of production are fixed
all factors of production are fixed
time is limited
at least one factor of production is fixed