INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Manual labor can be used to augment the output of an existing automated system during those periods when demand exceeds the capacity of the automated system. To reduce risk of product failure.
Detailed explanation-2: -A production system transforms input to output. Meaning, it’s the systems that manufacture a product consisting of whatever components is needed to make it a reality.
Detailed explanation-3: -A manufacturing production system is a collection of technology and processes that manufacturers use to produce goods. The system includes the machines, tools, and equipment used to produce goods, as well as the methods and procedures for operating those machines and equipment.
Detailed explanation-4: -The five main types of the production process are Mass production, Batch production, job production, Just-In-Time production, and flexible manufacturing system.