Resource Management (Edexcel A-Level Business): Flashcards

Transforming inputs into outputs

Extracting raw materials from natural resources

Manufacturing & construction transforming raw materials

Service sector providing intangible products

Manufacturing a single item/project at a time

Products made in groups/batches with same operations

Continuous sequence of operations, mass production

Self-contained cells producing product families

Total output ÷ Number of workers

Total output ÷ Amount of capital employed