What happened during the production era? What will be an ideal respon

QUESTION

What happened during the production era?

What will be an ideal response?

ANSWER

Answer: Emphasis was on production. The production concept emphasized producing as many goods as possible because there was an unlimited demand. Producers were small time (farmers, tradesmen), goods were handmade and scarce, and demand was high. This represented a seller’s market—a market in which there is more demand for products than there is supply.
Explanation: Emphasis was on production. The production concept emphasized producing as many goods as possible because there was an unlimited demand. Producers were small time (farmers, tradesmen), goods were handmade and scarce, and demand was high. This represented a seller’s market—a market in which there is more demand for products than there is supply.