What makes a consumer good or a producer good? Give at least two examples each of consumer goods and producer goods from your daily life
Answers
Answered by
1
In economics, goods are considered as those commodities which are capable of satisfying human wants and desires. There is two primary classification of goods, i.e. consumer goods and capital goods. 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. The line of demarcation amidst these two type of goods is very thin and blur. The only point that forms a base for the difference between consumer goods and capital goods is their use.
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. The line of demarcation amidst these two type of goods is very thin and blur. The only point that forms a base for the difference between consumer goods and capital goods is their use.
Answered by
0
Answer:
ORANGE AND PINAPPLE
Explanation:
Similar questions