Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Production refers to the economic process of converting of inputs into outputs. Production uses resources to create a good or service that is suitable for exchange. This can include manufacturing, storing, shipping, and packaging. Some economists define production broadly as all economic activity other than consumption. They see every commercial activity other than the final purchase as some form of production. Production is a process, and as such it occurs through time and space. Because it is a flow concept, production is measured as a “rate of output per period of time”. There are three aspects to production processes: 1. the quantity of the good or service produced; 2. the form of the good or service created; 3. the temporal and spatial distribution of the good or service produced.

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