Week 1 - Objectives - Describe the various production methods and outline the four major decisions made in production

This week we begin our adventures into the world of production methods that firms utilize

Objectives covered:

• Describe the production process
• Outline the four major decisions made in production
• Explain the factors that influence the decisions of what, how, when and where to produce
• Assess the advantages and disadvantages of the various methods of production
• Outline the factors that influence the method of production used