Learning Curves:
Role of Learning Curves
The concept of learning curve came into picture with the hypothesis that as the experience of workers/labours enhance, their skill to generate the products increases correspondingly. In other words we can say that experienced workers are more skillful than naïve workers. Another term associated to it known as "experience curve" that is closer to industrial applications. According to experience curve as the production enhance the requirement of the workers decreases. It is very significant concept and in almost all of the industries it prevails. The behaviour of learning curve is illustrated in Figure
Figure: A Typical Learning Curve
Learning curve is just a line that is plotted between number of units produced and the time needed to produce one unit.