JAMB Commerce 2011 Objective — Question 5
Question 5 of 49 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2011 Objective paper, with the correct answer and a full explanation.
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The creation of goods and services to satisfy human wants is referred to as
- A. A. commercialization
- B. B. manufacturing
- C. C. productionCorrect
- D. D. entrepreneurship
Explanation
Production can be defined as all activities which involve conversion of raw materials to finished goods in order to satisfy human wants. It is also defined as creation of utility.
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