728 B
728 B
Complete Manufacture
Definition
The finished product resulting from the transformation of raw materials through labour and the application of capital. This represents the final stage of production before exchange or sale in the market.
Source Chapter
Book I, Chapter 6
Context
Discussed in the context of how the price of manufactured goods must cover materials, wages, and profits. Smith explains that when exchanging complete manufactures, something must be given for the profits of the undertaker who has advanced stock in the production process.
Economic Domain
Production