Is an activity that involves making of goods or service that a person needs
Answers
Answered by
1
Production is an activity that involves making of goods and services that a person needs.
Explanation:
In Economics and in general sense,the process or mechanism of production involves the optimal or proper utilization of various resources and factor or inputs of production to produce or make final goods and services which can be subsequently used for consumption in the society.Therefore,essentially,it is an economic process that deals with satisfying various human needs and wants by providing them the desired or preferred products,commodities and services.Hence,the practice of production has a particular target or goals which is to satisfy consumer or human needs and wants and any manufacturing without having this particular objective cannot be considered as production from an economic standpoint.
Similar questions
Environmental Sciences,
5 months ago
English,
9 months ago
Math,
9 months ago
Math,
1 year ago
Chemistry,
1 year ago