Final answer:
Production is the process of transforming inputs into goods and services that consumers value, illustrated by the example of pizza making.
Explanation:
Production is the process of combining raw materials, labor, and other factors of production to create goods and services that consumers want and value. In the context of pizza making, inputs include flour, water, yeast, tomatoes, spices, labor, and capital. The transformation of these inputs results in the final product, the pizza, ready for consumption by the customer.
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