define production process
Answers
Answered by
16
Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output). It is the act of creating output, a good or service which has value and contributes to the utility of individuals. ... market production. public production.
Answered by
5
The production process is concerned with transforming a range of inputs into those outputs that are required by the market.
This involves two main sets of resources - the transforming resources, and the transformed resources.
The transforming resources include the buildings, machinery, computers, and people that carry out the transforming processes. The transformed resources are the raw materials and components that are transformed into end products.
Any production process involves a series of links in a production chain. At each stage value is added in the course of production. Adding value involves making a product more desirable to a consumer so that they will pay more for it. Adding value therefore is not just about manufacturing, but includes the marketing process including advertising, promotion and distribution that make the final product more desirable.
This involves two main sets of resources - the transforming resources, and the transformed resources.
The transforming resources include the buildings, machinery, computers, and people that carry out the transforming processes. The transformed resources are the raw materials and components that are transformed into end products.
Any production process involves a series of links in a production chain. At each stage value is added in the course of production. Adding value involves making a product more desirable to a consumer so that they will pay more for it. Adding value therefore is not just about manufacturing, but includes the marketing process including advertising, promotion and distribution that make the final product more desirable.
Similar questions