'' Production is the creation of utility'' Justice the statement
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Production is an economic activity. Production is a process where the goods and services are created or manufactured.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.
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