Econ question

Question

Some reporters chase after movie stars and public figures to expose events unknown to the public.Explain whether these actions belong to production.

Answer 1

Favorite Answer

The answer is yes.

Production refers to the process of turning inputs into outputs to satisfy human wants.

In the above, the inputs are the unknown events of the celebrities and the outputs produced are the related news in TV, newspaper, magazines etc.

This can satisfy human wants since they want to know more about the unknown events of movie stars and public figures.

Hence these actions belong to production.

Source(s): My Econ Knowledge

Answer 2

Yes, it belongs to production.