Define production and list the types of production system.

Define production and list the types of production system. 
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Answer :

Production:- production is any process or procedure developed to transform a set of input elements like men, materials, capital, information and energy into a specified set of output elements like finished products and services in proper quantity and quality thus achieving the objectives of an enterprise. There are four factors of production. Those are as follows.

A) Land & Natural resources

B) Labour

C) Capital

D) Enterprise

List of Production System:

1. Intermittent production

a. Job order production system.

b. Batch order production system.

2. Continuous production

a. Mass production system.

b. Process production.
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