PRODUCTION,

SOCIETY AND
THE
ORAGANIZATION
 What is production?
Common parlance:
making something
material
Economics:

 converts the resources

of nature to satisfy
human wants.
 According to J.R. Hicks:
activity directed towards the
satisfaction of the wants of
people by converting
physical inputs into physical
outputs.
EXAMPLES,
MAKING OF CLOTH,
SERVICE OF DOCTORS
LAWYER, TEACHERS AND
ETC
ACCORDING TO ANDREI
SAKHARO,

“PRODUCTION IS NOT
CREATION OF MATTER”
Society
A group of people living
together that shares cultural
aspects such as language,
dress, norms, of behavior and
artistic forms.
Organization

Is a tool people use to

coordinate their actions to
obtain something they desire
or value.
Entrepreneurship
The process by which people
recognize opportunities to satisfy
needs and then gather and use
resources to satisfy those needs.
 THANK YOU
FOR LISTENING
