PRODUCTION

Presented by : Shivangi yadav

Faculty member : Mohit sir
 • It derives from the word “ Product” .
• Product = pack of satisfaction
• Production implies the creation of goods and
services to satisfy human needs.
• It involves conversion of inputs(resources)
into output (product).
WHAT IS P RO D U C T ION ?
 PRODUCTION PROCESS

Input
(Factors of production) Output

Conversion process
EXAMPLE OF PRODUCTION FUNCTION

• The ingredients and the microwave are

input.
• The conversion/ transformation process
is also called operational process.
• It is also a part of service.
• The last function is the output (finished
goods).
 Machine
Labour

IN P U T
Land

Capital

Raw
material
 • Skilled labour

• Semi skilled labour

LABO U R
• Unskilled labour
M AC HIN E
MACHINE
 I N TRO D U C TIO N O F
P RO D U C TI O N M A N AG EM ENT