BUS 115 Final Exam Questions with
Accurate Answers
production - ANSWERSthe creation of goods and services using the factors of
production. Land, labor, capital, entrepreneurship, and knowledge.
production management - ANSWERSdescribes all the activities managers do to help
companies create goods
operations Management - ANSWERSA specialized area in management that converts
or transforms resources (including human resources) into goods and services.
form Utility - ANSWERSthe value producers add to materials in the creation of finished
goods and services
process manufacturing - ANSWERSthat part of the production process that physically or
chemically changes materials
assembly process - ANSWERSthat part of the production process that puts together
components
continuous process - ANSWERSa production process in which long production runs
turn out finished goods over time
intermittent process - ANSWERSa production process in which the production run is
short and the machines are changed frequently to make different products
CAD - ANSWERSComputer Aided Design
CAM - ANSWERSComputer Aided Manufacturing
CIM - ANSWERSComputer Integrated Manufacturing
flexible manufacturing - ANSWERSdesigning machines to do multiple tasks so that they
can produce a variety of products
lean manufacturing - ANSWERSthe production of goods using less of everything
mass customization - ANSWERStailoring products to meet the needs of a large number
of individuals
Accurate Answers
production - ANSWERSthe creation of goods and services using the factors of
production. Land, labor, capital, entrepreneurship, and knowledge.
production management - ANSWERSdescribes all the activities managers do to help
companies create goods
operations Management - ANSWERSA specialized area in management that converts
or transforms resources (including human resources) into goods and services.
form Utility - ANSWERSthe value producers add to materials in the creation of finished
goods and services
process manufacturing - ANSWERSthat part of the production process that physically or
chemically changes materials
assembly process - ANSWERSthat part of the production process that puts together
components
continuous process - ANSWERSa production process in which long production runs
turn out finished goods over time
intermittent process - ANSWERSa production process in which the production run is
short and the machines are changed frequently to make different products
CAD - ANSWERSComputer Aided Design
CAM - ANSWERSComputer Aided Manufacturing
CIM - ANSWERSComputer Integrated Manufacturing
flexible manufacturing - ANSWERSdesigning machines to do multiple tasks so that they
can produce a variety of products
lean manufacturing - ANSWERSthe production of goods using less of everything
mass customization - ANSWERStailoring products to meet the needs of a large number
of individuals
