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“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 definition: 1. the process of making or growing goods to be sold: 2. the amount of something that is made or…. Learn more.
The meaning of PRODUCTION is something produced : product. How to use production in a sentence.
5 Mac 2024 · Factors of production is an economic term that describes the inputs used in the production of goods or services to make an economic profit.
PRODUCTION meaning: 1. the process of making or growing goods to be sold: 2. the amount of something that is made or…. Learn more.
Production (economics) Production 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 definition: the act of producing; creation; manufacture.. See examples of PRODUCTION used in a sentence.
Definition of production noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Q: What is the meaning of production? Ans: According to James Bates and J.R. Parkinson “Production is the organized activity of transforming resources into finished products in the form of goods and services; and the objective of production is to satisfy the demand of such transformed resources”.
Production is the process (or processes) a firm uses to transform inputs (e.g. labor, capital, raw materials) into outputs, i.e. the goods or services the firm wishes to sell.
