Question

Goods are produced in ______.
A. Factories
B. Farms
C. Homes
D. All of the above

Answer 1

Hint: Manufactures and producers produce goods in factories or farms. The raw material is collected and transferred into a final product.

Complete answer:
Production is a process of combining various material inputs and immaterial inputs in order to make something for consumption.
Goods are produced in factories and farms by the manufactures and the producers which then goes to the traders and comes to market for general people who buy them.
There are many factors of production which include Land/Natural Resources, Labor, Capital, Entrepreneurship, etc.
There are four types of goods namely Private goods, Common goods, Club Goods, and Public goods.
Trading of goods is done by physically delivering to a consumer. Some goods can be stored, delivered, and consumed later.
The most important forms of goods production are market production, public production, and household production.
Goods are both tangibles and intangibles, and may involve the transfer of product ownership to the consumer.

Hence the correct answer is option D.

Note: Manufactures and producers produce goods in factories or farms or even homes. To produce a good we combine various material inputs and immaterial inputs in order to make something for consumption. Producers go to traders which in turn bring those goods to the market for general use. There are four types of goods namely Private goods, Common goods, Club Goods, and Public goods.