Chapter 10, Problem 6AA

To determine

Correct word to complete the sentence.

Answer to Problem 6AA

The correct word to complete the sentenceis process.

Explanation of Solution

The production process involves four steps: planning, quality control, purchasing and inventory control. Planning is the preparation for the production process, i.e., how much raw material is to be acquired and from where. Quality control means inspecting the quality of the raw material to be bought. Purchasing means buying of raw material and inventory control means finest consumption of inventory at a particular time.

Economics Concept Introduction

Introduction: Production is the procedure of transforming raw materials into finished goods. It helps in providing consumers with the products that are needed for a living.