Question

distinguish between consumer goods and industrial goods

Answer 1

Answer:

distinguish between consumer goods and industrial goods

Step-by-step explanation:

Consumer Goods : 1.The demand for consumer goods is a direct demand

2.The number of buyers is large

3. The demand for consumer goods is elastic.

4. After-sale service is important in the case of consumer durables.

industrial goods: 1. The demand for industrial goods is a 'derived demand'. It is derived from the demand for consumer goods, which are made using the industrial goods.

2.Industrial goods have only limited number of buyers.

3.Industrial goods have relatively inelastic demand

4.After-sale service is of paramount importance in the case of all industrial goods.

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