What is the meaning and aim of production?
Answers
Answer:
Meaning of production .. Production is the process of combining factors of production to produce goods and services. ... The aim of production is to produce the goods and services to satisfy human wants. There are four requirements for production of goods and services: Land, Labour, Physical capital and human capital.
Answer:
Production is the process of manufacturing or growing something in large quantities. Production is the amount of goods manufactured or grown by a company or country. We needed to increase the volume of production.
Aim of Production :-The aim of production is to produce the goods and services to generate wealth that we want for ourselves. There are four requirements needed for the production of goods and services which are land, labor, capital and Human Capital or Entrepreneur.
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