What term refers to the basic substance used as an input in a production process?

The term that refers to the basic substance used as an input in a production process is "raw materials." Raw materials are the foundational materials from which products are created; they include things like metals, plastics, glass, and other substances that undergo various processes to be transformed into finished goods. Understanding raw materials is crucial in manufacturing as they directly affect the quality, cost, and availability of the final products.

Components typically refer to parts or elements that are made from raw materials and are used in the assembly of finished goods, thus they do not represent the initial input. Finished goods are the completed products ready for sale, highlighting a later stage in the production cycle. Supplies generally refer to auxiliary items required for manufacturing processes, such as tools, maintenance supplies, or cleaning materials, which are not the primary inputs used to create products.