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Q. |
In Economics, production means - |
A. | manufacturing |
B. | making |
C. | creating utility |
D. | farming |
Answer» C. creating utility | |
Explanation: All factors of production like land, labour, capital and entrepreneur are required in combination at a time to produce a commodity. Production means creation or an addition of utility. Factors of production (or productive 'inputs' or 'resources') are any commodities or services used to produce goods and services. |
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