Question

Name the 3
levels of production

Answer 1

Answer:

SUBSISTENCE PRODUCTION (TRADITIONAL PRODUCTION) When a country is producing at the subsistence level, it is producing the amount that is only able to meet its basic needs. ...

DOMESTIC PRODUCTION (LOCAL PRODUCTION) ...

THE EXPORT LEVEL OF PRODUCTION (SURPLUS PRODUCTION)

Answer 2

Three levels of production.

Explanation:

The levels of production can be differentiated into subsistence production, domestic production, and surplus production.

1. Subsistence production or traditional production can be defined as the bare minimum production. Subsistence production is only enough to meet the present demands of the citizens and does not allow for any storage or buffer stocks.
2. Local production or domestic production can be referred to as the level of production where there is enough to meet the future demands of the citizens by way of storage and stocking.
3. The surplus production or export level of production is the ultimate level of production where a country is able to produce so much that it can meet the demands of its citizens, stocking for future contingenices as well as export the surplus to other nations.