ABSTRACT
Production is the making of something new- either tangible or intangible. Today intangible 'ideas' are also included under the heading of production. Production is one of the most basic and important functions of human activities in modem industrial societies and is now viewed as a cultural activity. Production of goods is basically the utilisation of resources of production particularly raw materials in the manufacture of finished product. The flow of materials which generates the flow of costs proceeds according to the instructions issued from the flow of information based upon market needs. Utilities created by the production function should be of 'positive' value. However, various by-products may be produced during this process when the raw material state is changed to a finished-product state through successive production stages. The process of conversion of resources of production, in particular that of raw materials into tangible goods or products, is called the production processes.
