Production covers all but one of the following activities:

Question 1 Report

changing the position of a good in time as, for example, holding stock of goods until they are required

the provision of some kind of service e.g retailing

changing the form of a good from the raw material to the finished product

changing the situation of a good as for example , from a factory in Lagos to a retail shop in port harcourt

the use of good and services to satisfy individual wants

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