Types of Production

This lesson defines production and explains its types, including primary, secondary, and tertiary production. It also discusses the extraction of raw materials and the transformation into finished goods.

• 03:28 “We are going to look at them one after the order. The first one is primary production. This is the early stage of production that involves the extraction of raw materials from the soil, not just soil from the sea, beneat...”
• 04:16 “farmers and so on and so forth. So the primary production can also be classified as extractive production, extractive production. Okay, we have a secondary stage of production, which we call, I mean, which means those ra...”
• 02:43 “Like we said that production is getting those raw materials into finished goods and some of the services that has to be provided to make our things to be equal, right? We have types of production, types of production. On...”