 | Manufacturing | Production |
|---|---|---|
| Introduction (from Wikipedia) | Manufacturing is the production of merchandise for use or sale using labor and machines, tools, chemical and biological processing, or formulation. | |
| Definition | Production is defined as the act of manufacturing goods for their use or sale. | |
| What it actually is | Production is the act of creating output, goods or services which have values and contributes to the utility of individuals. | |
| How is it measured? | It is the amount of work done or manufactured i.e. the Output | |
| What does it measure? | It is the measure of produced goods. |
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