JAMB Economics 1979 Question 3

Production covers all but one of the following activities:

1. A.changing the position of a good in time as, for example, holding stocks of goods until they are required
2. B.the provision of some kind of service, e.g. retailing
3. C.changing the form of a good from the raw material to the finished product
4. D.changing the situation of a good as, for example, from a factory in Lagos to a retail shop in Port Harcourt
5. E.the use of goods and services to satisfy individual wants.