Monday, 22 August 2011


In economics, production is the act of satisfying a want or need. The act may or may not include factors of production other than labor. Any effort directed toward the realization of a desired product or service is a "productive" effort and the performance of such act is production.

A body massage performed by a masseuse is production no less than the harvesting of wild mushrooms or the building of automobiles.

No comments:

Post a Comment