Cards (4)

  • Job production
    • Used for one-off items produced by skilled workers
    • Each product can take a long time to make, so fewer products are made in a given time period compared to other production methods, meaning productivity is lower
    • Skilled workers will need to be paid higher wages than unskilled workers, which increases costs
  • Firm uses job production
    • Less able to take advantage of economies of scale
    • Unit costs can be high due to the product not being made in bulk
  • Unit costs are high
    Firm needs to charge higher prices for its products
  • Customers are often willing to pay higher prices for a product that is unique or handmade