Inspired

Production .1.1.1 Production Manufacture of goods & provision and delivery of services Needs and Wants Needs  are the things necessary for living, that is food, shelter and clothing. Wants  are those goods and services which are not compulsory for living but makes life easier. What is commerce? Commerce  is study related to distribution of products from the producer (point of production) to the consumer (point of consumption). Products, Production, Producer and Consumers Products  are the goods and services produced by a company, to satisfy needs and wants of customers. Production  is any activity which serves to satisfy human needs and wants. Producer  is a person or company who produces products to satisfy need and wants. Consumers  are the ultimate users of goods and services produced. No Goods Services Explanation 1 Ownership is not transferred Ownership is not transferred When buying a service, the s