changing the position of a good in time as, for example, holding stock of goods until they are required
the provision of some kind of service e.g retailing
changing the form of a good from the raw material to the finished product
changing the situation of a good as for example , from a factory in Lagos to a retail shop in port harcourt
the use of good and services to satisfy individual wants
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Discussions (18)
It was stated that production process is not complete untill it ''reach'' the final consumer. Take note of the word ''reach'', it means ''get to'' the final consumer not until they utilise it.
Production is the creation of utility, while utility deals with the satisfaction a consumer derived from good and services. Therefore, E is the easy answer to choose here
Production is d creation nd distribution of goods so I tink E is d correct answr cos its nt dealing with creation and the distribution of goods... I stand to b CORRECTED
Holy shii!! How can it be option E. It's D. Production has various meanings. It is said to be the creation of utility( utility is the satisfaction derived from the consumption of a commodity). It is also said to be the conversation of raw materials into finished goods or anything that satisfies human wants. It is also said to be the extraction of raw materials from the soil and then turned them into semi-finished or finished goods.
Option A is talking about warehousing (which production facilitates)
Option B is referring to services rendered
Option C is referring to conversation(same as production)
Option D is talking about mobility(production doesn't cover this)
Option C is talking about satisfaction.
d ans is D nd nt A as satisfaction is needed in production which can b justified by warehouse as it create goods in accordance with demand which will later b consume nd ar under aids to trade on d branch of production.while D is concern with changing position of goods which does nt include satisfaction hence nt concern with production.
The answer is E the main reason is that in a word one can define production as the creation of utility which mean satisfaction
Some any word that relate with satisfaction Carry all about production
So e is the answer
