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| Term | Definition |
|---|---|
| Diversification | Moving into a different line of production |
| Division of labour | splitting up the production process into individual tasks |
| Specialisation | to focus on one particular area/task |
| Productivity | the rate of production. Calculated by output divided by input |
| Production | Quantity of goods produced |
| Terms | 5 |
| Creator | julie-ann |
| Created | May 25, 2009 |
| Groups | None |
| Subject | Economics Level 1 |
| Access | Anyone |
| Edit | Creator Only |
Revision for achievement standard 1.2 (NZ)