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Tuesday, January 18, 2011

Type of Production

These are the tangible goods (that can be felt) which are sold to the general public. This include durable and non-durable goods. Durable goods such as machinery, garments and mobiles can last for a long time while non-durable goods such as edible things soon become damaged.
They are physical products, manufactured specifically to be sold to other industries for the production of other goods and services like commercial vehicles.
They are non-tangible products for the public to satisfy their wants. They could be commercial or personal. Commercial services include banking, insurance, transportation which are done on a large scale. Personal services are one-to-one services such as hairdressing, teacher and lawyer.

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