What is consumer good and capital goods? Explain by giving suitable examples as well.
Asked by abhishek240624
27th April 2018,
1:15 PM
Answered by Expert
Answer:
Consumer goods are purchased by the consumer for the satisfaction of their wants. They are the final users of food stuffs, dress material and other accessories. Final users of consumption goods are consumer households, general government or government welfare agency and non-governmental organisations.
Capital goods are purchased by the producers in the production process for several years and are of high value. These goods are fixed assets of the producers such as land, building and machineries.
Answered by Expert
27th April 2018,
2:38 PM
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