Compare the economic condition & function of Primary raw material producer & the Trader.
Answers
Answer:
Raw materials are materials or substances used in the primary production or manufacturing of goods. Raw materials are commodities that are bought and sold on commodities exchanges worldwide. Traders buy and sell raw materials in the factor market because raw materials are factors of production, as are labor and capital.
Raw materials are the input goods or inventory that a company needs to manufacture its products.
Examples of raw materials include steel, oil, corn, grain, gasoline, lumber, forest resources, plastic, natural gas, coal, and minerals.
Raw materials can be direct raw materials, which are directly used in the manufacturing process, such as wood for a chair.
Indirect raw materials are not part of the final product but are instead used comprehensively in the production process.
The value of direct raw materials inventory appears as a current asset on the balance sheet.
Explanation:
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