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Bookmark or Share- Production: Meaning, Definition, Types and Factors - Economics Discussion“Production is the organised activity of transforming resources into finished products in the form of goods and services; the objective of production is to satisfy the demand for such transformed resources”.
- Production (economics) - WikipediaProduction is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output will be a good or service which has value and contributes to the utility of individuals. [1]
- Production system | Definition, Types, Examples, & Facts | Britannica MoneyProduction system, any of the methods used in industry to create goods and services from various resources. All production systems are, at an abstract level, transformation processes that transform resources, such as labor, capital, or land, into useful goods and services.
- 4 Factors of Production Explained With Examples - InvestopediaFactors of production is an economic term that describes the inputs used in the production of goods or services to make an economic profit. These include any resource needed for the creation of...
- PRODUCTION | English meaning - Cambridge DictionaryPRODUCTION definition: 1. the process of making or growing goods to be sold: 2. the amount of something that is made or…. Learn more.
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