Question

Define production.....​

Answer 1

Answer:

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Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.

Answer 2

Explanation:

Production is the process of making, harvesting or creating something or the amount of something that was made or harvested. An example of production is the creation of furniture. An example of production is harvesting corn to eat. An example of production is the amount of corn produced.

The aim of production is to produce the goods and services that we want. There are four factors of production: (i) Land. The first requirement of production is land, and other natural resources such as water, forests, minerals.