Production and consumption is another way of saying supply and demand. If production far exceeds consumption for a particular product, the market becomes flooded or saturated and the price of the product goes way down. If consumption far exceeds production, there is a major shortage of the product, so its price goes way up. It is usually best to produce just enough to keep your prices competitive. However, it is certainly not a bad thing to put so much quality into certain products that it causes production to be far below market demands, as long as your customers recognize the difference in quality and are willing to pay extra for it. I think that is the sort of corporate behavior that builds brand loyalty.
Production is the firms production/creation of goods *supply*
Consumption is the purchase and use of the goods by the public *demand*
In a market equilibrium, production equals consumption.
Supply=Demand
When you grow a potato you are producing it.---------- Production
when you eat that potato you are consuming it.-------- Consumption
The relationship between consumption and production is that production is dependent on consumption. The higher the consumption, the higher the production.
Economic analysis is need for analyzing the production, distribution and consumption of goods. This allows a group or business understand what goods are the most needed and sell the best.
U r awesome
The theory of production deals with the relationship between the factors of production and the output of goods and services
greater efficiencies in production.
It refers to the idea that the production and consumption of a service occur simultaneously, making it impossible to produce and store a service prior to consumption.
between consumption production
that in production you sell and in consumption you buy:)
Economic analysis is need for analyzing the production, distribution and consumption of goods. This allows a group or business understand what goods are the most needed and sell the best.
Describe the relationship between the purchasing and production of a manufacturing company
Economics is the ssc that analyzes the production, distribution and consumption of goods and services.
power consumption heat production
There is no relationship. Alcohol contains no vitamins, vitamins contain no alcohol.
The relationship is that testosterone produces sperm
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Indian heritage in production and consumption
the relationship between production and marketing is to provide serves and to get profit to run the business organisation effecively
The theory of production deals with the relationship between the factors of production and the output of goods and services