Question

examine how the
different
from other productive systems explain with
examples.​

Answer 1

Answer:

All production systems, when viewed at the most abstract level, might be said to be “transformation processes”—processes that transform resources into useful goods and services. The transformation process typically uses common resources such as labour, capital (for machinery and equipment, materials, etc.), and space (land, buildings, etc.) to effect a change. Economists call these resources the “factors of production” and usually refer to them as labour, capital, and land. Production managers refer to them as the “five M’s”: men, machines, methods, materials, and money.

When viewed as a process, a production system may be further characterized by flows (channels of movement) in the process: both the physical flow of materials, work in the intermediate stages of manufacture (work in process), and finished goods; and the flow of information and the inevitable paperwork that carry and accompany the physical flow. The physical flows are subject to the constraints of the capacity of the production system, which also limits the system’s ability to meet output expectations. Similarly, the capacity of the information-handling channel of the production system may also be an important measure of a system’s output. The management of information flows, or the planning and control of the system to achieve acceptable outputs, is an important task of the production manager.

Explanation:

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