Define the meaning of meaning and aim of production
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Answer:
aim of production is defined as the purpose for which the product has been made or to be made it can be for commertial purpose or self utilisation
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Explanation:
Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). ... Economic well-being is created in a production process, meaning all economic activities that aim directly or indirectly to satisfy human wants and needs.
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