James lives in a poor village.

Grandma says, “Don’t worry James, I can make a new shirt for you.”

Grandma starts to sew a shirt for James.

Grandma gives him the new shirt as a gift. This is the best gift James has ever received.

James has an idea in his mind.

Production is the organised activity of transforming resources into finished products in the form of goods and services to satisfy people’s needs. 

Categories: Economy

Leave a Reply

Your email address will not be published. Required fields are marked *