Production refers to
A)physically producing material goods only.
B)any activity carried on by a firm, whether a corporation, partnership, or sole proprietorship.
C)any activity that results in the conversion of resources into goods and services that can be consumed.
D)any activity that causes a material conversion of manufactured goods.

Question

Quizplus · Accepted Answer

Production is not limited to the physical production of goods but also includes any activity that results in the creation of goods and services that can be consumed, including services and intangible products. Thus, option C is the most appropriate choice. Options A, B, and D are too narrow and exclude important aspects of production.

Production Refers to