The meaning of Production, Consumption, and Exchange

Production

Activity

Activity

Any activity designed to satisfy people wants, the things that satisfy people’s wants are goods, like televisions, cars, furniture and food, and also services like teaching, window – cleaning, health care and retailing. Production, therefore, involves the making and selling of goods and services.

Consumption

Using

Using

The Using Up Of goods and service to satisfy our wants is known as consumptions

Exchange

People can satisfy some of their wants by producing a number of goods and services for their own consumptions

Sumber :

  1. Google Pict. Activity (Accsess on December 5,2015)
  2. Google Pict. Using (Accsess on December 5,2015)
  3. Moynihan. D & Brian Titey. (2015). Economics, A Complete Course for IGCSE and O Level: University of Cambridge International Examination.

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Dan Moynihan & Brian Titey. (2015). Economics; A Complete Course for IGCSE and O Level. 2015. hlm 14

2 responses to this post.

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