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TYPES OF PRODUCTION IN COMMERCE — Commerce Keypoint

TYPES OF PRODUCTION IN COMMERCE

The types of production are listed below:

Primary Production

This type of production deals with how raw materials are extracted from the earth and seas. E.g. farming, fishing and mining.

Secondary production

This involves transformation of the extracted raw material into finished goods.

Tertiary production

For production to be complete, the process must as a matter of fact transcend those of primary and secondary productions. Tertiary production therefore, acts as the third stage of production, which involves the activities of commerce, i.e. they see to the distribution of goods and services made available by the two stages of production. .

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