Question

what is meant by production ? state an activity included in production​

Answer 1

Answer:

Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). ... Economic well-being is created in a production process, meaning all economic activities that aim directly or indirectly to satisfy human wants and needs.

Answer 2

Question ⤵️

what is meant by production ? state an activity included in production.

Answer ⤵️

KEY TAKEAWAYS

• Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit.

• These include any resource needed for the creation of a good or service.

• The factors of production include land, labor, capital and entrepreneurship. The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors.

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Explanation:

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