Production covers all the following except when

Assessment: WAEC SSCE - Economics - 2008 (Objective) Subject: Economics

Question 1 Report

Production covers all the following except when

Answer Details
Production is a process of transforming raw materials or inputs into finished goods or outputs that satisfy human wants. Therefore, production always involves the creation of utility and the transformation of inputs into outputs. The options that refer to the manufacturing of a good or the creation of a commodity both involve production. However, the option that states "a commodity is consumed" does not refer to production, since consumption involves the use of goods or services that have already been produced. Therefore, the correct answer is: "Production covers all the following except when a commodity is consumed."

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