Two examples of monetary value creation are manufacturing goods and providing services. For instance, when a factory produces products like shoes or electronics, it adds value to raw materials by transforming them into finished goods, which can be sold for a higher price. Similarly, providing services such as teaching or medical treatment creates value by meeting the needs of others in exchange for payment. Both activities involve work and skills that contribute to earning income, thereby driving economic growth and improving living standards. These examples highlight how value is created through both production and services in the economy.
This question related to Chapter 13 Social Science Class 6th NCERT.
From the Chapter 13. The Value of Work.
Give answer according to your understanding.
A baker selling bread.A tailor stitching clothes for customers.
Explanation: Both involve transforming materials into valuable goods or services.
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