Question

production is just creation of goods of higher value.explain

Answer 1

hey friends
according to my point of view
production of goods and services implies transforming raw material into finished products adding higher value to it.....
additionally individuals involved in the production also bring value add to services that they perform by using their skills......
production needs many factors like land,labour ,machines and many more .....
hence i can say that production is just creation of goods of higher value......

hope this helps you

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