Advertisements
Advertisements
प्रश्न
Explain the meaning of production.
उत्तर
Production is a process in which inputs are transformed into output. Alternatively speaking, production is an activity that creates economic utility (or value) in goods.
APPEARS IN
संबंधित प्रश्न
Explain time utility with an example.
Choose the correct term for the given definition. 'An activity which creates an economic value'.
Identify the incorrect statement from the following:
What do you mean by factors of production?
What are the four basic factors of production?
According to 'Adam Smith' production means production of material goods only.
Choose the correct term for the given definition.
Any activity which creates present and future utility.
With the help of an example, explain the process of creation of form utility.
State three factors on which production depends.
'Land is the original source of all material wealth' in this context explain four determinants that influence the productivity of land.