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Economics miscellaneous

  1. The basic object of all production is to
    1. satisfy human wants
    2. provide employment
    3. make profits

    4. increase physical output
Correct Option: A

According to Adam Smith, consumption is the sole end and purpose of all production. The goal of production is the satisfaction of human desire. All the processes, by which human labor creates goods and services, bring them to the ultimate consumer.



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