What is a raw material give one example
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The concept of raw material with example is as follows:
- To produce a finished product, company uses raw materials. This materials are used in manufacturing of goods.
- Raw materials are bought and sold on exchanges of goods worldwide.
- Example of raw material is wood. This raw material is used to make furniture. Here the final product is furniture which is made by tree, the raw material.
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The raw material is any basic material from which any product is manufactured or produced.
Explanation:
- It is unprocessed or semi-processed such as crude latex, cotton, crude oil, biomass, iron ore, wood logs, and any product from agriculture, fishing, and forestry.
- A raw material is transformed into finished goods using the production or manufacturing process.
- It is the primary requirement for any industry and which is done transformed into goods for consuming purposes because one cannot use the wood log for study but once transformed into table it is used for such purpose.
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