Topics: Manufacturing, Mixed economy, Planned economy Pages: 3 (839 words) Published: March 23, 2014
1 )Manufacturing is the act of making or producing goods by utilizing labor and machineries especially in a large -scale, which includes large division of labor. Finished goods produced after manufacturing are further divided into two groups’ producer goods and consumer goods. Producer goods are those supplied to another company for manufacturing other complex products and consumer goods are the finished products which are purchased by the customers directly for the general usage. Casting is a widely used process of manufacturing in which molten metal is poured into a mold, which comprises of a hollow cavity of predetermined design and it is then allowed to cool down and solidifies into the shape of the mold . The solidified part is also known as casting which is ejected out or broken out from the mold. wide variety of metals like aluminum copper, magnesium and copper alloys There are two types of molds used in casting like expendable and multiple use molds. It is economical for the production of much complicated parts in a large scale. Metal molds is the most widely in casting processes since they are dimensionally stable and durable compared to other method of casting. Metal molds can be reused . Manufacturing takes turns under all types of economic systems. In a free market economy, manufacturing is usually directed toward the mass production of products for sale to consumers at a profit. In a collectivist economy, manufacturing is more frequently directed by the state to supply a centrally planned economy. In mixed market economies, manufacturing occurs under some degree of government regulation. Modern manufacturing includes all intermediate processes required for the production and integration of a product's components. Some industries, such as semiconductor and steel manufacturers use the term fabrication instead. The manufacturing sector is closely connected with engineering and industrial design. Examples of major manufacturers in North America...
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