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‘Research the production process for a chosen producer (firm)’
Economics
14 Pages • Essays / Projects • Year Uploaded: 2022
In this task, the student had to choose a firm of interest and a product that they sell. The information that was required to present was: The industry, firm and product you have selected An explanation of the production process and should clearly distinguish the main inputs used (resources), the actual production process (transformation) and output(s) of the process. Classification of the inputs (resources) identified (natural, capital, human) An explanation of why you classified at least the resources into the natural, human and capital groups (one example per group). An explanation of whether the process is capital or labour intensive A view on the sustainability of the product and/or production process. You could consider: Is the product sustainable in its resource use? Is the impact on the environment on its production process sustainable? Are there sustainable options being used or could be used? e.g. reduce, reuse, recycle, other? Are the goals of the firm (e.g. market share, profit maximisation) in conflict with being sustainable? Identify an interdependence the firm may have with another one in the producer sector. Why is it interdependent? An explanation of whether the process demonstrates economies of scale e.g. division of labour, specialisations. If it does not, what could it do to improve efficiency? This presentation was graded as Achieved with Excellence.
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