Production (Economics) Information
In economics, production is the act of creating 'use' value or 'utility' that can satisfy a want or need.[1] The act may or may not include factors of production other than labor. Any effort directed toward the realization of a desired product or service is a "productive" effort and the performance of such act is production.
Look at the table, the pen and various items around you which you must be using at some time or other. Imagine about the food which you usually consumed or even the clothes you are now wearing. How have these items come into beings? In fact, they are the result of the process called production.
If a process yields an outcome worse or the same as before it occurred, then the process cannot strictly be termed as production. For example, washing a clean shirt is not production, even if it occupies the labour of a person, costs time and uses up laundry resources.
However, destruction of value in one sense may be a part of the production of another commodity, e.g. pulling down a building to create a highway.
Social science
In social sciences, particularly sociology, production is a fundamental concern of the classical theorists of sociology, particularly and most famously in the work and theory of Karl Marx but also in that of Emile Durkheim, Max Weber and Georg Simmel. With the advent of the assembly line and mass production for mass consumption, social scientists have shifted the classical fascination with the socially meaningful practice of production in society, toward the more-modern and very noticeable practice in advanced capitalist societies - being consumption.
See also
- Assembly line
- Economics
- Fordism
- Means of production
- Mode of production
- Modernity
- Outline of industrial organization
- Product (business)
- Sociology
- Taylorism
References
- ^ Kotler, P., Armstrong, G., Brown, L., and Adam, S. (2006) Marketing, 7th Ed. Pearson Education Australia/Prentice Hall.
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