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Define production?

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Define production?

Posted by Agnes Jimmy 5 years, 4 months ago

CBSE > Class 09 > Social Science

2 answers

Cm| Black Bolt 5 years, 4 months ago

Production is a process of combining various material inputs and immaterial inputs in order to make something for consumption . It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.

Yogita Ingle 5 years, 4 months ago

Production refers to the creation of wealth or utility. It is an activity that results in creation of goods and services to satisfy human wants. It is a process in which some materials are transformed from one form to another. For example, wheat is used for producing bread, wood for making table etc.

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