Define production??explain the role of labour in production
Answers
Economic well-being is created in a production process, meaning all economic activities that aim directly or indirectly to satisfy human wants and needs. ... They are improving quality-price-ratio of goods and services and increasing incomes from growing and more efficient market production.
The processes and methods used to transform tangible inputs (raw materials, semi-finished goods, subassemblies) and intangible inputs (ideas, information, knowledge) into goods or services. ...
Economic well-being is created in a production process, meaning all economic activities that aim directly or indirectly to satisfy human wants and needs. ... They are improving quality-price-ratio of goods and services and increasing incomes from growing and more efficient market production