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When production of goods is divided into several processes, it is known as ______. - Economics

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Question

When production of goods is divided into several processes, it is known as ______.

Options

  • Product based

  • Process based

  • Territorial based

  • Sample based

MCQ
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Solution

When production of goods is divided into several processes, it is known as process based.

Explanation:

  • When the production of goods is divided into several processes, it is referred to as process-based production.
  • This approach allows for specialization, where each stage of production can be optimized for efficiency and quality, ultimately improving overall productivity.
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Chapter 1: Factors of Production - Exercise [Page 28]

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Goyal Brothers Prakashan Economics [English] Class 10 ICSE
Chapter 1 Factors of Production
Exercise | Q 24. | Page 28
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