Question

Production is nothing but a process of adding utility to the object. Justify the statement.

Answer 1

Answer:

"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:

Answer 2

Answer:

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.