Define manufacturing firms.
Understand the Problem
The question is asking for a definition of manufacturing firms, which refers to businesses involved in the production of goods through the use of labor, machines, tools, and chemical or biological processing. The answer will include what constitutes a manufacturing firm and its significance in the economy.
Answer
A business that uses components, additional parts, or raw materials to make a finished good.
A manufacturing firm is a business that uses components, additional parts, or raw materials to make a finished good.
Answer for screen readers
A manufacturing firm is a business that uses components, additional parts, or raw materials to make a finished good.
More Information
Manufacturing firms can engage in various activities, including developing, preparing, compounding, converting, assembling, and producing goods.
Tips
Avoid confusing manufacturing firms with service businesses which do not produce tangible goods.
Sources
- What is a Manufacturing Business: Definition & Examples - study.com
- Manufacturing firm Definition | Law Insider - lawinsider.com
- What Is Manufacturing? Types, Examples, & Risks - NetSuite - netsuite.com
AI-generated content may contain errors. Please verify critical information
