Profile 2: Production, Marketing and Finance
Section 5: Production
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SPECIFIC OBJECTIVES
The students should be able to:
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CONTENT
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1. |
Identify factors in the production of goods and services;
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Factors of production: Land, Labour, Capital, Enterprise.
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2. |
Identify industries developed from the natural resources of Caribbean territories;
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Caribbean industries developed from agricultural produce and mining.
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3. |
Differentiate between production and productivity;
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The effects of efficiency in the production of goods and services.
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4. |
Explain the importance of productivity
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Productivity as it relates to the efficiency of labour, including its value and importance; the factors affecting its supply; human resource development (including education, health, and working conditions).
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5. | Outline the effects of migration; |
Migration and its positive and negative effects on the labour force.
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6. |
Describe the role of the entrepreneur in the decison making process;
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Importance of entrepreneurial organizational skills.
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7. |
Explain the role of capital in production;
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Fixed working and venture capital.
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8. |
Differentiate among the various production levels;
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Production levels: subsistence, domestic consumption, surplus and export.
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9. |
Classify the different types of production;
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Types of production:
(a) extractive; (agriculture, mining, fishing)
(b) construction; (building)
(c) manufacturing; (assembling, refining)
(d) service; (transport, communication, tourism)
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10. |
Describe the characteristics of cottage industry;
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Cottage industries:
(a) home-based;
(b) mainly manual;
(c) small scale;
(d) use of local raw materials;
(e) use of family members as labour.
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11. |
Outline the opportunities for and the benefits of developing linkage industries;
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Linkage industries:
(a) backward;
(b) forward;
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12. |
Outline the factors that determine the location of a business;
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Factors affecting location:
(a) geographical;
(b) availability of raw materials and supplies;
(c) infrastructure;
(d) power;
(e) water;
(f) transport;
(g) health facilities;
(h) labour supply;
(i) governmental regulation
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13. |
Outline the functions of a small business;
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Functions of a small firm
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14. |
Explain the effects of growth on a business;
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Growth of a busines sand effects on:
(a) organizational structure;
(b) capital;
(c) labour;
(d) scale of production. (economies of scale)
(e) use of technology.
(f) potential for export.
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15. |
Describe the economic and social implications of technological development.
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Capital intensive versus labour intensive production in developing countries, mechanization and automation, e.g. computer-aided design (CAD) and computer aided instruction (CAI).
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Tuesday, April 17, 2012
CONTENT: Section 5 - Production
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