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Introduction
Question
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What is production?

Answer

Production is the process of converting raw material into useful things. Things become useful as they acquire utility value in the process of production.

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Some More Questions From Introduction Chapter

What is saving ?

Define investment.

Who are the agents of production ?

Define economic problem.

Define Statistics as a plural noun.

Define statistics as a singular noun.

Would it be called statistics if it is said that there are 2000 students in our school ?

Name the stages of statistical study.

Define the concept of universe as used in statistics.

Define statistics.