What is production and the types of production.

2. What is Production?
 The processes by which raw material, semi-
finished goods, and intangible inputs, such as
knowledge or ideas are transformed into
tangible goods or services.
 Production is the act of creating goods and
services to satisfy individual needs and wants.

3. Types of Production
 Primary Level
 Secondary Level
 Tertiary Level

4. Types of Production?
 Primary
This type of production is directly aligned
to extractive industries, and is therefore the first
level of production. It involves extracting raw
materials (natural resources) from the earth

5. Types of Production
 Secondary
At the secondary stage of production,
manufacturing industries convert the raw
materials from the extractive industries into the
desired products.

6. Types of Production
 Tertiary
The tertiary level of production refers to
all the services that are provided to consumers
and to manufacturers. If goods are produced then
they must get to the consumers through various
services. If producers or manufacturers are to get
the goods to the consumers, then they need to
access funds from financial institutions to
finance distribution and other related activities.