Question

the involves production of goods and services by using non optimal combination of inputs​

Answer 1

Production Process:

The business firm is basically a producing unit it is a technical unit in which inputs are converted into output for sale to consumers, other firms and various government departments.

Production is a process in which economic resources or inputs (com­posed of natural resources like land, labour and cap­ital equipment) are combined by entrepreneurs to create economic goods and services (also referred to as outputs or products).

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