TYPES OF PRODUCTION

AGRICULTURAL PRODUCTION

This type of production is very essential for human living because it provides food for human consumption generates revenue and creates employment opportunity. Agricultural production involves the production of crops and animals. Crops can be food crops like rice, yam, beans, etc and cash crops like cocoa, coffee, timber etc. White animal farming goes with the rearing of goats, sheep, hens etc.

INDUSTRIAL PRODUCTION

This is a secondary type of production. Industrial production can be classified into three namely.

(a) Extractive industry that deals with the extraction of natural resources.

(b) Construction industry that deals with the construction and building of houses, roads and bridges. 

(c) Manufacturing industry that deals with the manufacturing and processing of raw materials into finished and semi-finished products using machines as tools.

SERVICE

This is the type of production that deals with tangible goods. However, services could be commercial or distributive services such as insurance, banking, wholesaling and retailing. Or personal services such as teaching, being a Medical Doctor, Lawyer or an Accountant.

 

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