Practicing Success
Which of the following is a process of adding value to the intermediate good? |
Production Consumption Investment Generation |
Production |
Production is generally defined as an activity which produces physical goods and services or increase the value of intermediate consumption by converting the inputs into outputs. In other words, we can say it adds some value to the intermediate good. Example: Buying fruits for Rs. 20/kg and selling fruit chart at Rs 25/kg ( Value addition has taken place) |