Which term refers to the process of converting raw materials into finished goods?

The term that accurately describes the process of converting raw materials into finished goods is manufacturing. Manufacturing encompasses the entire process of transforming raw materials, through various processes and methods, into finished products that can be sold to consumers. This process includes designing, fabricating, assembling, and packaging goods, ensuring they meet specific standards and requirements.

Fabrication is often part of manufacturing, particularly when custom parts or components are involved, but it does not encompass the full scope of turning raw materials into a complete finished product. Production is a broader term that can refer to the overall output of both manufacturing and other processes, while modelling typically involves creating representations or prototypes rather than transforming materials into end-use products.

Therefore, manufacturing is the most accurate term to describe the comprehensive conversion of raw materials into finished goods.