Outsourcing in Production

Abstract

The products are consumer's goods as well as producer's goods. Consumer goods are goods, which are used finally by consumers. E.g. Food grains, textiles, cosmetics, VCR, etc. Producer's goods are the goods used by manufacturers for producing some other goods. E.g. Machinery, tools, equipments, etc.Expansion of trade and commerce depends on industrial growth. It represents the supply side of market. Industrial production comprises the output of industrial establishments, covering: mining and quarry ing; manufacturing; and electricity, gas and water supply. It basically indicate a measure of the country's economic health judged by its output from manufacturing, mining, and utility industries. Industrial production is calculated by the Federal Reserve, which publishes a monthly index of industrial production. Also called index of industrial production. Until the I 960s, this commonly related to iron and steel or coal, but since then lighter engineering in automobile or robotics manufacture has taken over.