What is production area?
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Also, what production means?
Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). Economic well-being is created in a production process, meaning all economic activities that aim directly or indirectly to satisfy human wants and needs.
Similarly, what is the main purpose of production? “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”.
Considering this, what is production and example?
Production is the process of making, harvesting or creating something or the amount of something that was made or harvested. An example of production is the creation of furniture. An example of production is harvesting corn to eat. An example of production is the amount of corn produced.
What is production in a business?
production. The processes and methods used to transform tangible inputs (raw materials, semi-finished goods, subassemblies) and intangible inputs (ideas, information, knowledge) into goods or services. Resources are used in this process to create an output that is suitable for use or has exchange value. USAGE EXAMPLES.