Why the basic idea of production concept could possibly maximise volumes, profitability and scales?Select one:a.Cheapb.Affordablec.Convenientd.All of them

The basic idea of the production concept is that consumers will favor products that are available and highly affordable. Therefore, this concept is oriented towards high production with low costs.

a. Cheap: The production concept emphasizes on producing as much as possible to achieve economies of scale, which can reduce the cost per unit of product. This allows companies to price their products cheaply, attracting more customers and thus maximizing volumes.

b. Affordable: By focusing on high volume production, companies can spread their fixed costs over a larger number of units, which can lower the overall cost of production and make the product more affordable for consumers. This can increase demand, leading to higher sales volumes and profitability.

c. Convenient: High volume production can also ensure that products are always available whenever and wherever consumers want them, adding to the convenience factor. This can attract more customers, further increasing sales volumes.

d. All of them: So, the answer is (d) All of them. The production concept can potentially maximize volumes, profitability, and scales because it can make products cheap, affordable, and convenient for consumers.