Question

Write two differences between production and consumption.

Answer 1

here's ur answer dude

It involves the production and consumption of products. It explains in deep the factors of production, which include land, labor, entrepreneurship, and capital. It is also through economics that we understand consumers behavior and helps in understanding government policies.

hope it helps

Answer 2

Answer:

The primary function of the economy is to provide goods and services for satisfying wants of the people. The act of satisfying wants by the use of goods and services is called consumption. Production and consumption are, therefore, essential economic activities which must go on in an economy continually.In production persons acquire an objective aspect, and in consumption' objects acquire a subjective aspect.