What is the meaning of production?
Answer and explanation
Correct answer: Making goods or services
Production is the process of creating goods or providing services by transforming or combining resources. It may involve manufacturing a product or performing an activity that gives value to a customer. Thus option A is correct. Forgetting customers, wasting materials, or keeping a shop closed does not constitute production.
Frequently asked questions
What is the correct answer to this question?
Making goods or services
Why is this the correct answer?
Production is the process of creating goods or providing services by transforming or combining resources. It may involve manufacturing a product or performing an activity that gives value to a customer. Thus option A is correct. Forgetting customers, wasting materials, or keeping a shop closed does not constitute production.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business, Trade and Commerce. Topic: Classification of business activities.
