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State the two types of production and state their characteristics.

State the two types of production and state their characteristics.

Answers

joseph
a. Direct production – this is when goods and services are produced for one’s own personal consumption. Characteristics of direct production:
-Goods and services are of low quality and quantity
-Encourages individualism
-leads to low standards of living
-can be very tiring
-does not encourage invention and innovation
-a lot of time is wasted as one move from one job to another
-no one has the ability to provide all that he/she requires
b. indirect production- this is the production of goods and services with view to to selling the excess in order to acquire what one does not produce. Characteristics of indirect production are:
-production with a view of exchange
-the producer specializes in one or a few areas of production
-it results in surplus production of goods and services
joseph rimiru answered the question on November 18, 2017 at 20:20

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