What Is Production

question 148

Multiple Choice

What is production?

• A) Material items or products that customers will buy to satisfy a want or need
• B) Tasks performed by people that customers will buy to satisfy a want or need
• C) The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services
• D) The rate at which goods and services are produced based upon total output given total inputs

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Definitions:

Break-Even Point

The level of sales at which total revenues equal total expenses, resulting in no profit or loss for the business.