in economy production means?

Answer 1

In microeconomics, production is the act of making things, in particular the act of making products that will be traded or sold commercially. Production decisions concentrate on what goods to produce, how to produce them, the costs of producing them, and optimizing the mix of resource inputs used in their production. This production information can then be combined with market information (like demand and marginal revenue) to determine the quantity of products to produce and the optimum pricing.
In macroeconomics, production is measured by Gross Domestic Product and other measures of national income and output like (GNP-Gross National Product,GNI-Gross National Income,NNP-Net National Product,NNI-Net National Income).

Answer 2

Production of things , machines,parts consumer or military is extremely essential for a healthy economy. It can be Soul of economy

Answer 3

Production is the act of making things, in particular the act of making products that will be traded or sold commercially.

Answer 4

in economics production refers to the activities through which we can change the raw material into finished goods.(means ready for consumption) with the help of factors of production like land labour capital and enterpreneur.

Answer 5

Jobs for labourer particularly skillful one , and also jobs for salesman, but without sales and further managment evrything is useless in Economics