The most important forms of production include market production, public production and household production. In order to understand the origin of economic well-being, we must understand these three production processes.
Anything that's made or grown is the result of production, from the harvesting of grains, vegetables, and fruits to the drilling of oil. Even your crafty friend handles the production of the handmade bookmarks she sells.
“Production is the organised activity of transforming resources into finished products in the form of goods and services; the objective of production is to satisfy the demand for such transformed resources”.
Production is the process (or processes) a firm uses to transform inputs (e.g. labor, capital, raw materials) into outputs, i.e. the goods or services the firm wishes to sell.
Production is the process of creating goods and services by combining various inputs, such as labor, capital, and raw materials, to generate output that is valuable to consumers. It encompasses a wide range of activities, including manufacturing, mining, agriculture, and the provision of services.
Definition of production noun from the Oxford Advanced Learner's Dictionary. [uncountable] the process of growing or making food, goods or materials, especially large quantities. The new plant is due to begin production next year. Production of the new aircraft will start next year.
PRODUCTION meaning: 1 : the process of making or growing something for sale or use often used before another noun; 2 : the process of making something naturally
“Production is the organised activity of transforming resources into finished products in the form of goods and services; the objective of production is to satisfy the demand for such transformed resources”.