Economy, asked by krishraval30885, 1 day ago

which goods are called consumer goods in economics
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Answers

Answered by NidhiYadav5638
1

Answer:

A consumer good, also known as a ‘final good’, is the end product a business produces and is purchased by the consumer. For example, microwaves, fridges, t-shirts, and washing machines, are all examples of consumer goods. They are final goods that the consumer purchases.

Consumer goods contrast with goods in the fact that intermediate goods are used to create the final consumer good. Goods such as copper, coal, iron, or other raw materials, are not consumer goods because they are used to make a final consumer good. For , copper can be used to create trays, bowls, and other containers which are considered consumer products. These are examples of intermediate goods that are in turn used to create final consumer goods.

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