Test Your Commodity Selling Savvy

They are goods that are not counted as inputs to which economic value addition can take place

They are goods that are meant for final use and will not pass through any more stages of production or transformations (correct)

They are goods that are used in further production and lose their specific characteristics

They are goods that have undergone transformation in the production process

Final goods

Capital goods

Intermediate goods

Consumer goods (correct)

Capital goods (correct)

Intermediate goods

Final goods

Consumer goods

<p>A final good is an item meant for final use and will not pass through any more stages of production or transformations.</p> Signup and view all the answers

<p>Consumption goods are goods and services that are consumed when purchased by their ultimate consumers while capital goods are tools, implements, and machines that are used in the production process but do not get transformed in the production process.</p> Signup and view all the answers

<p>Capital goods are the crucial backbone of any production process, aiding and enabling the production to take place. They form a part of capital, one of the crucial factors of production, that is invested in by a productive enterprise and are gradually replaced over time.</p> Signup and view all the answers