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Understanding the 4 M's of Production

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Test your knowledge on production factors and startup capital.

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Philippines

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Understanding the 4 M's of Production
 

Understanding the 4 M's of ProductionOnline version

Test your knowledge on production factors and startup capital.

by Zheena Giezel Corpuz
1

The 4 M's of production are Money, Materials, Machines, and Marketing.

2

Money is essential to start and sustain a business.

3

Zoning laws and local ordinances are not important when selecting a business location.

4

Start-up capital is necessary to keep business operations running.

5

Materials can be raw or finished products used in production.

6

External sources like banks can provide short-term, long-term, and intermediate loans.

7

Family savings always have high interest rates compared to bank loans.

8

Manpower includes the entrepreneur himself.

9

Machines are devices used to convert raw materials into products.

10

Choosing a business location should consider proximity to target markets.

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