Tag - is a

What is a production system ? What are tire measures of labour productivity and cost productivity ?

Ans. Production System - A production system is the design process by which elements are transformed into useful products. A process is an organized procedure for accomplishing the conversion of input into output, as shown in fig. 5.3. Ans. There are the following types of [...]

What is a production system ? Explain. Or What do you understand by production system ? Give a diagram of simplified production system.

Ans. Production system is a part of big system i.e., organization/ business firm. It is the system works as a skeleton of activities by' which creation of any activity can occur. There are two ends in a production system, at one end of the [...]

“Since production is a process of converting input into a more valuable output, there always exists some form of relationship between the output and its inputs.” Explain.

Ans. Production can be referred as a set of processes or procedures developed to transform a set of input elements like men, materials, machines and money into a specified set of outputs to achieve the organizational objectives. In order to minimize the cost of production, [...]