Education

THE SCOPE OF PRODUCTION -To make the satisfaction of human wants possible, the gap between those who make the goods (Producers) and those who will use them (consumers) must be bridged. -The following questions must be answered in order to satisfy the wants of consumers; A-How will the goods be bought into the form in which they could be used …

DESCRIPTIVE ANALYSIS 0F PRODUCTION DEFINITIONS Production is the process by which human beings creates goods and services which consumers are prepared to purchase in order to satisfy their wants. DESCRIPTIVE ANALYSIS 0F PRODUCTION DEFINITIONS Production may be defined in several approaches; A) PRODUCTION AS THE SATISFACTION OF EFFECTIVE DEMAND Production is the satisfaction of effective demand. .-Production comprises a variety …

SIGNIFICANCE OF COMMERCE TOWARDS SOCIAL-ECONOMIC DEVELOPMENT Commerce creates utility which is the ability of a commodity to satisfy a human want. Commerce creates such utilities as; -Time utility, -Place utility, -Ownership utility, and -Possession utility. By taking the goods to the consumers where and when they want them.  COMMERCE AND ACCOUNTANCY -As far as general analysis, classification, recording and control …