Discuss the meaning of Consumption Goods and Capital Goods.
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These are not used in the production of other goods.Consumption goods are meant for final consumption as final goods. Capital goods are those goods which are used in the process of production for several years and are of higher value. These goods are fixed assets of the producers.
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Consumer goods are defined as the goods that are used for final consumption, i.e. the goods are not used for further processing. On the other hand, capital goods are those goods that are used for future production by the manufacturers, rather than by the consumers for final use.
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