Production , costs , revenues and profit

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Leaderboard

Created by

Jennifer Tran

Cards (4)

what is specialisation?
When a person, business or country focuses on the production of a limited number of products or focuses on specific tasks in order to gain greater efficiency
Specialisation:
learning by doing helps increase productivity and the quality of supply
businesses employ specialist managers (mangenial economies of scale)
occurs at all levels of economic actvitiy
what are examples of specialisation in a country?
Bangladesh major producer + exporter of textiles
Norway oil exporter (specialist in climate)
Ghana biggest producers of cocoa
what are examples of specialisation in a region of a country?
West Midlands been a centre for motor cars
Mini plant at Oxford

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Production , costs , revenues and profit

Cards (4)

3.1.4 Production, costs, revenue, and profit

3.2 Costs, Revenues, and Profits

1.3.2 Business Revenues, Costs, and Profits

3.2 Costs, Revenues, and Profits

3.3 Revenues, costs, and profits

5.3 Revenue, Costs, Profit, and Loss

1.3.2 Business revenues, costs, and profits

3.4 Production, costs, and revenue

3.1.4.4 Profit

5.3 Revenue, costs, profit and loss

3.1.4.2 Costs

Understanding and calculating revenue, costs, and profit

3.1.4.1 Production

3.2.1 Costs

3.2.2 Revenues

3.1.4.3 Revenue

3.4.5 Average revenue, total revenue, and profit

3.2.2 Revenues

3.2.1 Costs

3.2.3 Profits

3.2.3 Profits