Which of the following is an example of market "production," as used by economist?
A) Garvey takes out a low-cost government loan to start his pet-sitting business.
B) Heidi makes a pizza for her family's dinner.
C) Katrina works as a cashier at the local produce stand.
D) The theatre and film studies department in Fine Art's College stages a play at the local theatre.

Question

Quizplus · Accepted Answer

Market production is the creation of goods and services for sale in markets, and the production of the play at the local theatre falls under this category.  A is not an example of production as Garvey is taking out a loan, not producing a good or service. B is not an example of market production as Heidi is making a pizza for her family, not for sale in a market. C is an example of labor, but not market production as Katrina is working as a cashier and not creating a good or service.

Which of the Following Is an Example of Market "Production