A comparison of capital and skilled labour required to manufacture standardized and customized products. Concept Introduction: The specifications of a standardized product, as the name itself suggests are already standardized; while those for a customized product are given by the customer every time. The processes, equipment and the volumes for a standardized product are already establishedwhile a customized product will, have variations every time it is manufactured.

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Chapter 2, Problem 3P

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Interpretation:A comparison of capital and skilled labour required to manufacture standardized and customized products.

Concept Introduction:The specifications of a standardized product, as the name itself suggests are already standardized; while those for a customized product are given by the customer every time. The processes, equipment and the volumes for a standardized product are already establishedwhile a customized product will, have variations every time it is manufactured.

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