Categories: Lesson Notes

JSS1 First Term Business Studies Lesson Note – Production

The content is just an excerpt from the complete note for JSS1 First Term Business Studies Lesson Note – Production. Check below to download the complete DOCUMENT

WEEK 8.

Topic: PRODUCTION

CONTENT:

  1. Meaning and Forms of Production
  2. Factors of Production

Sub-Topic 1: Meaning and Forms of Production

Production could be defined as any human activity that involves the making of physical goods and provision of services for the satisfaction of human wants.  It is also seen as creation of utilities; utility means the ability of goods and services to satisfy human wants. In a nutshell, Production is any activity which gives services or changes the form, place or time of anything that is used to satisfy human needs.

Forms of Production/ types of production                                                                                                                                          

There are three forms of production namely: primary production (extractive industry), secondary production (manufacturing and constructive industry) Tertiary production (commercial and direct services).

Primary production (Extractive Industry)

This type of production involves digging of raw materials or tapping and harnessing of natural resources from the land, sea and atmosphere.  It includes farming, fishing, hunting, mining, quarrying, oil drilling etc.  This form of production is referred to as primary production.

Secondary Production (Manufacturing and Constructive Industry)

Manufacturing: this is the process of converting of raw materials or primary products from the extractive industry into finished or semi-finished goods.  This class of production includes furniture making, road construction, bridges, paper milling, food processing, car production, chemical, textile etc.

Constructive: this form of production is concerned with the design and manufacture of capital goods. Capital goods are equipment or machinery that can be used for a long period of time to make more wealth. it involves contract construction work such a s building roads, bridges, factories, equipment and residential and public building. Examples of companies in the construction industry include Costain, Julius Berger

To gain full access to the note: DOWNLOAD FILE

Sunday

Share
Published by
Sunday

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

3 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

3 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

3 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

3 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

3 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

3 months ago