Which of the following is concerned with actual production of goods and services?

Assessment: WAEC SSCE - Commerce - 2002 (Objective) Subject: Commerce

Question 1 Report

Which of the following is concerned with actual production of goods and services?
Answer Details
Industry is concerned with the actual production of goods and services. Industries involve the transformation of raw materials into finished products, which are then sold in the market. This process involves manufacturing, construction, and other production activities. The other options, commerce, trade, and service, are related to industry but not directly involved in the actual production of goods and services. Commerce involves the buying and selling of goods, trade involves the exchange of goods and services, and service involves providing assistance or intangible goods to consumers.
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