Production covers all the following except when
ECONOMICS
WAEC 2008
Production covers all the following except when
- A. utility is created
- B. a good is manufactured
- C. a commodity is consumed
- D. individual wants are satisfied
Correct Answer: C. a commodity is consumed
Explanation
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.
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *