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Define the term production. - Economics

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Question

Define the term production.

Definition
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Solution

  • Production means the process of creating utility in goods
    OR
  • Production means making something from other items for further use.
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Chapter 3: Basic Concepts of Economics - QUESTION BANK [Page 51]

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J. P. Goel and Kaushal Goel Economics [English] Class 9 ICSE
Chapter 3 Basic Concepts of Economics
QUESTION BANK | Q 12. | Page 51
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