Any activity that results in the conversion of resources into products that can be used in consumption is
A) planning.
B) investment.
C) production.
D) discounting.

Question

Quizplus · Accepted Answer

Production is the process of transforming resources into goods or services that are available for consumption. It involves the creation of a finished product from raw materials or other inputs. Planning is the process of setting goals and developing strategies for achieving those goals. Investment involves the allocation of resources with the expectation of generating a return. Discounting is the process of valuing future cash flows at a lower rate than present cash flows. None of these activities directly involve the conversion of resources into products for consumption.

Any Activity That Results in the Conversion of Resources into Products