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Define the following terms as used in business studies: (i) production (ii) distribution (iii) consumption (iv) business

      

Define the following terms as used in business studies;
I) production
II) distribution
III) consumption
IV) business

  

Answers


Winnie
I) production - refers to creation of goods and services to satisfy human wants

II) distribution - refers to movement of goods from producer to final consumer

III) consumption - refers to the usage of goods and services

IV) business - refers to any activity carried out with an aim of making profit
Wincate 1 answered the question on September 29, 2017 at 14:51


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