Question

'Consumption is the sole end and purpose of all production'. Explain this statement in brief.

Answer 1

'Consumption is the sole end and purpose of all production'. This is because all the goods and services are made for the purpose of human use so that their wants can be satisfied.
These good which are produced are made available in the market and man purchase it according to their requirement and pay for these goods. So this is how to cycle gets completed.