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Production is the process of making goods and services and distributing them to where they can be consumed. Production is not complete until the goods and services reach the consumers. It is in this lucid manner that this book will teach you production..It clearly explains the types of production. They include primary production, secondary production and tertiary production. It analyzes the factors of production. They include land, capital, labour and entrepreneur. It appraises division of labour and throws light on the good and bad sides of division of labour. It highlights the limitations to division of labour. It evaluates small-scale production and large-scale production. It examines the internal and external economies of scale. It discusses the production possibility curve. It explores the law of diminishing returns and casts light on the importance of the law of diminishing returns to the producers.
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