Production Concept

Production Concept

Production is the step-by-step conversion of one form of material into another form through continuous process to create the utility of the product to the user. Production is a value addition process. Edwood Buffa defines production as ‘a process by which goods and services are created’. Production function is concerned with the transformation of a range of inputs into the required outputs .For example, manufacturing of standardized products like, car, motor cycle, radio, television, soaps, etc.

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