Production II

Commerce SSS1 First Term

WEEK 5

Production II

Performance Objectives

The student should be able to:

  1. List the factors that determine the volume of Production
  2. Explain the factors of Production
  3. Explain division of Labour, Advantages and Disadvantages and limitation to division of labour,
  4. Discuss Specialization and Exchange, Interrelation between production, division of Labour, Exchange and Specialization.

Content

FACTORS THAT DETERMINE THE VOLUME OF PRODUCTION

The market size: The size of the market refers to the demand for goods produced. The greater the demand for the goods; the greater the volume of production

The efficiency of other factors of production: The more the efficiency of other factors of production, the more the increase in the volume of production.

 Level of technology: View More

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