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Question
Briefly explain the productive mechanism.
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Solution
The productive mechanism is the mechanism in which the goods and
services are produced in the most effective and efficient manner so that more
output can be obtained using fewer resources.
When productivity increases, the income of people increase, the standard of living of people increase and the
society progresses.
The more the productivity, the more the output and the more
the progress.
The productive mechanism is the mechanism in which the goods and
services are produced in the most effective and efficient manner so that more
output can be obtained using fewer resources.
When productivity increases, the income of people increase, the standard of living of people increase and the
society progresses.
The more the productivity, the more the output and the more
the progress.
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