Types of production and characteristics of direct (subsistence)production
Answer Text: Types of production.-We have two types of production.1) Direct production.2)Indirect Production.Direct production.-Refers to the production of goods and services by and individual for use. Alsoknown as subsistence production.Characteristics of direct (subsistence)production:-Production is carried out in small scale.-Production is usually for own use or family use.-No specialization as one does everything for himself.-The goods produced are not for sale but for own consumption.-Subsistence production uses simple methods in production.-In this production, low quality goods are produced.-Small quantities are produced.