Production means

Commerce

NECO 2001

Production means

A. changing the form of a good at any stage from the raw material to the finished products
B. increasing economic welfare of people by producing more goods and services
C. moving goods from one place to another for proper use
D. the amount of satisfaction derived from the consumption of goods and services
E. the provision of goods and services which are capable of satisfying human wants

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Correct Answer: Option E

Explanation

Production involves creating goods and services that meet the needs and desires of consumers. It's about providing something of value that people can use to satisfy their various wants and needs. This process includes all activities from the extraction of raw materials, through manufacturing, to the final delivery of products and services to consumers.

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