effects of technological development t6

• What is one of production?


  One off production is often reffered as job production and relates to being tailor made, bespoke or cutomised, high cost a nd premium
• What is batch production?


  Making groups of identical products at a time. Each batch is exactly the same e.g. same colour, can vary from ten to thousands, fast, flexible, poor production, frequent changes eg seasonal garden furniture
• What is mass production?


  making large quantities of a product quickly and cheaply, efficient, production costs are kept as low as possible so the product will provide value for money, high initial set up costs, inflexible eg electronic products
• What is continuous production?


  Manufacturing of identical high demand products, 24 hours a day, extremely low unit costs, very little flexibility eg cans and bottles
• What is consumerism?


  Is a social and economic order that encourages the acquisition of goods and services in ever increasing amounts,
• What is built in/ planned obsolescence?


  The supply of goods would grow beyond consumer demand, and manufacturers turned to planned obsolescence and adverts using to manipulate consumer spending, so the product has a built in failure
• What are the steps for global market place?


  Export= sell domestically produced products to buyers in other countries

  Licensing= legal process allowing use of manufacturing/patents/knowledge

  Contract manufacturing= private label manufacturing by foreign country

  Joint venture= domestic firm buys/joins a foreign company to create a new entity

  Direct investment= active ownership of a foreign company/manufacturing facility