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Production is the process of making goods and services and distributing them to where they can be consumed. In the real economic sense, 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. It throws light on the good and bad sides of division of labour. It highlights the limitations to division of labour.
And it explores the interrelationship between production and exchange. It maintains that exchange facilitates production, division of labour and specialization. And in return, production, division of labour and specialization facilitate exchange.
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