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the action of making or manufacturing from components or raw materials
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∙ 13y ago
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Definition of economic institution?
An economic institution is the set of norms relating to production and distribution of goods and services
What is a economics definition?
Economics is the branch of social science that deals with the production and distribution and consumption of goods and services and their management,
How does the modern meaning ofbusinessdiffer from the traditional one?
1. Modern definition of business is the production, distribution, and sale of goods and services for a profit.
What is the definition of real flow in economics?
The flows of factors of production that go from households through factor markets to firms and of the goods and services that go from firms through goods markets to households.
Write a complete definition for the term economics?
Activities related to the production and distribution of goods and services in a particular geographic region.
What are capitol goods?
The definition of capital goods are the goods that are used for production purposes. They create goods and services that can be used by consumers.
What is the definition of agrigulture?
It is the production of food and goods through farming.
What is the definition of goods and services in geography?
Goods,services is the definition of "Economic Activity" which is the production of goods,services,labor,ect. So basically it is vice versa. Goods and service is'nt a definition is Geography, but is the definition of a geography term. Which is Economic activity.
What is the definition of factors of production?
The resources used to produce goods and services.
What is is the best definition of the means of production?
Means of production means the facilities and resources for producing goods (especially in a political context).
Write a definition for each of the resources needed for production. Give some example?
Factors of production are as followsLandLabourCapital : capital are those already-produced durable goods that are used in production of goods or services. eg: machinesEnterprise
Definition of economic institution?
An economic institution is the set of norms relating to production and distribution of goods and services
Define mass production-?
Mass Production is when you produce something for many people or many things.
What is a economics definition?
Economics is the branch of social science that deals with the production and distribution and consumption of goods and services and their management,
What is the definition of service sector?
The service sector is a segment of the economy that provides intangible goods and services to consumers, such as healthcare, education, finance, and entertainment. It does not involve the production of physical goods.
Definition of large batch and mass production?
Mass production of large batches of goods. A moving assembly line. More clearly defined positions. Clear chain of command...
What is the definition of direct cost?
These are those costs which are necessar for production of goods and without these costs it is not possible to manufacture units of producs to be sold.
