3 different components of economics explain in berif?
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Three distinct components of economics are consumption, production and distribution. (i) Consumption:Using of goods for satisfying human needs is called consumption. (ii) Production:Adding or increasing the utility of a commodity is known as production.
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the three components of economics are -
1)consumption
2)production
3)distribution
a)consumption - using of good for satisfying human needs is called as consumption
b) production - the action of making or manufacturing the raw products .
c)distribution - it is a way to share something over area
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1)consumption
2)production
3)distribution
a)consumption - using of good for satisfying human needs is called as consumption
b) production - the action of making or manufacturing the raw products .
c)distribution - it is a way to share something over area
hope it helps u
pls mark me as brainleist and follow me
have a nice day !!! :-)
ashichandhok:
hope it helps u
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