what do you mean by manufacturing ? define its two merits
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Manufacturing process are the steps through which raw materials are transformed into a final product.
Wide Market:
It is the opinion of the economists that Division of Labour will function well and its success depends on wide market. If there will be small market Division of Labour will not develop much. Division of Labour is mostly found in big factories, where commodities are produced on a large scale only then it will be possible to split up the job into different processes and to assign process to a different set of workers.
(2) Large Scale Production:
For the complete success of Division of Labour the goods must be produced on large scale. When there is large scale production more labourers will be employed and then Division of Labour will be possible in a nice way.
(3) The Quantity of Capital Available:
Sufficient capital is needed for a successful and better Division of Labour. Shortage of capital and money not available on time may help the company not to go for Division of Labour.
Wide Market:
It is the opinion of the economists that Division of Labour will function well and its success depends on wide market. If there will be small market Division of Labour will not develop much. Division of Labour is mostly found in big factories, where commodities are produced on a large scale only then it will be possible to split up the job into different processes and to assign process to a different set of workers.
(2) Large Scale Production:
For the complete success of Division of Labour the goods must be produced on large scale. When there is large scale production more labourers will be employed and then Division of Labour will be possible in a nice way.
(3) The Quantity of Capital Available:
Sufficient capital is needed for a successful and better Division of Labour. Shortage of capital and money not available on time may help the company not to go for Division of Labour.
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