Question

Q.1 The good or service purchased by an individual or an enterprise is for:
O a
a) Final use
O b) Use in further production
c) Both (a) and (b)
O d) Consumption​

Answer 1

Answer:

d) Consumption​

Answer 2

Concept introduction:

Good is a material object that buyers wish to possess or use. Despite not being a material or physical object, customers nevertheless desire services. A service can frequently be delivered remotely as well. The terms "goods" and "services" collectively describe what people consume and pay for.

Explanation:

Given that,  good or service purchased by an individual or an enterprise

We have to find, what is the purpose of purchasing goods and services.

According to the question,

If the goods and services are bought by individual then it must be for their personal use or final use and if is bought by enterprise then they may use it for further production of something else, hence the answer is both final use and use in further production.

Final Answer:

Option: c) Both (a) and (b).

SPJ3