Production is nothing but a process of adding utility to the object. Justify the statement.
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"Production is the creation of utility."- this is a true statement. Utility refers to the want-satisfying power of a commodity or a service.2:Production refers to a process of manufacturing commodities or rendering services which in turn provides satisfaction to human wants.Explanation:
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1:"Production is the creation of utility."- this is a true statement. Utility refers to the want-satisfying power of a commodity or a service.2:Production refers to a process of manufacturing commodities or rendering services which in turn provides satisfaction to human wants.
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