Which one of the following best represents a pure good?
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Pure goods are the products and commodities without adultration.
Explanation:
Definition of goods:
"Goods are the output of the raw materials used in the manufacturing process."
Characteristics of goods:
- Setting the targets and quality standards for products.
- Developing the product process and routing methods.
- Follow the concepts such as lean manufacturing and JIT i.e. Just in Time.
- Adopting the new technologies in the process only if required.
Developing warehousing process for proper logistics.
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