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What is Production? 4 types of production, Factors of production . . . What is Production? Production is a process of value addition, which is developed to transform a set of input elements like man, raw material, capital, energy, information into finished products and services in proper quality and quantity
What is Production? | Microeconomics - Lumen Learning 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
What does Production mean? - Definitions. net Production is the process of creating, manufacturing, or growing goods or services through combining various resources It involves using labor, raw materials, and technology to transform inputs into outputs (finished goods or services) that can be consumed or used
What is Production? Meaning, Types, Examples, Theory Production is the process of making or manufacturing goods and products from raw materials or components In other words, production takes inputs and uses them to create an output which is fit for consumption – a good or product which has value to an end-user or customer