WAEC - Economics (2008 - No. 3)
Production covers all the following except when
utility is created
a good is manufactured
a commodity is consumed
individual wants are satisfied
Açıklama
Production is the organized activity of transforming resources into finished products in the form of goods and services; the objective of production is to satisfy the needs of the final consumer.
This production involves the identification of human needs, producing goods that have utility to satisfy humans. It doesn't involve when goods are consumed.