What is Production ?


Production Meaning and Definition



Text Book Meaning:


             Production is the process by which various inputs or resources are transformed into outputs in terms of goods or services which are used to satisfy human wants.


Simple Meaning:


             Production is the process of conversion of raw material or resources into finished good or services.


Definition of Production: 

          
               According to Carl Heyel, " Production is the process of transforming raw materials or purchased components into finished products for sale ".

               According to Bethel, Smith and others, " Production is the transformation of raw materials by factory methods into things wanted by society".



1 comment:

  1. Unknown8 February 2013 at 10:16

    super da.. useful information. if we mis our notes..

    ReplyDelete

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