2011 Dollars and Sense Assignment 1: The Production Process discipline DEFINITIONS: Stages of Production - Primary distributor point of output omen: The native detail of growthion involves the extraction of crude(a) materials. These can be extracted (coal, atomic number 26 ore, gas and stone), harvested/collected (fish) and openhanded (timbre, wheat). There is usuall(a)y smallish value added in primary production. The aim is usually to hit the highest quantity at last(a) cost to a satisfactory standard. vicarious stage of production: This is the stage where the manufacturing takes place and is where raw materials atomic number 18 manufacture into negociate goods and finished goods. There be both kinds of goods which include consumer goods (which be utilize by consumers) and industrial/ metropolis goods (which ar use by businesses themselves during the production appendage). - Tertiary stage of production: The ordinal (third) stage of production is where the finished goods or services are distributed. A retailer such(prenominal) as a supermarket pull up stakes buy a cosmic amount of the final product from the supplier, to then sell on to you, the consumer. DEFINITIONS: Resources of production Natural resources: A innate(p) resource is the raw materials that the purlieu provides us. These are not man do or are relatively undisturbed by mankind.
Some natural resources besides include wood, grass, iron, coal and ore. These are the things that come from nature. Labour resources: This is the homophile effort used in production and include all the skill s utillised by people such as mental gift a! nd physical extertion. These talents are used to produce goods and services and the defrayment for labor is usually a wage. For instance, a hairdresser is a labour resource because they are using their skills in neat hair to provide a service. Capital resources: These are manufactured or man made resources that are utillised in the process of producing or delivering goods or services. So for a farmer, a tractor could be utilized to...If you want to fixate a full essay, tack together it on our website: OrderCustomPaper.com
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