Question

state the meaning of the terms ‘consumer goods’ and ‘capital goods’​

Answer 1

Answer:

Consumer goods :-

Consumer goods are products bought for consumption by the average consumer. Alternatively called final goods, consumer goods are the end result of production and manufacturing and are what a consumer will see stocked on the store shelf. Clothing, food, and jewelry are all examples of consumer goods.

Capital goods :-

Capital goods are physical assets that a company uses in the production process to manufacture products and services that consumers will later use. Capital goods include buildings, machinery, equipment, vehicles, and tools. Capital goods are not finished goods instead; they are used to make finished goods.