Production covers all the following except when
...Production covers all the following except when
Utility is created
A good is manufactured
A commodity is consumed
Individual wants are satisfied
Correct answer is C
Production is the organized activity of transforming resources into finished products in the form of goods and services; the objective of production is to satisfy the needs of the final consumer.
This production involves the identification of human needs, producing goods that have utility to satisfy humans. It doesn't involve when goods are consumed.
Co-operative societies formed to market the output of their members are called ...
At the equilibrium price, quantity demanded is ...
A firm will shut down in the long run if its earning is ...
An entrepreneur will locate his industry in a place ...
Examples of joint stock banks are ...
If petrol is no longer needed to produce energy, then demand for crude oil ...
The main economic objective behind the production of goods and services in any economy is to ...
Comparative cost doctrine of international trade means specialization in production ...