ZIMSEC O Level Commerce Notes: Forms of Production
-This is when one produces goods and services for their own consumption for example subsistence farming or a tailor making their own dress
- Goods are tailor made according to one’s own taste.
- Leads to self-satisfaction
- Saves on labour costs
- Resources are fully used
- Poor quality goods are produced as one is unlikely to have all the expertise required
- Lack of other related skills
- Does not satisfy some of the basic needs
- Lack of variety
- It takes a long time to complete the job
-This is when one spends his/her entire time in one occupation and then exchanges what he/she has made with others so as to satisfy his/her unfulfilled needs.
- Goods are produced in large quantities
- Goods are produced in surplus
- The goods are usually of higher quality than in the case of direct production
- Leads to specialisation, standardisation and simplification
- Leads to a wide variety of goods.
To access more topics go to the Commerce Notes page.