ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The final product that a producer makes
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The products made by all producers
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The goods used to produce other goods
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Equipment but not factories and offices
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Detailed explanation-1: -producer goods, also called intermediate goods, in economics, goods manufactured and used in further manufacturing, processing, or resale. Producer goods either become part of the final product or lose their distinct identity in the manufacturing stream.
Detailed explanation-2: -Capital goods, unlike consumer goods, are used to produce other goods. Capital goods don’t go straight into the manufacturing of other goods. Those goods are called “raw materials.” Instead, capital goods are part of the process of making other goods or providing services.
Detailed explanation-3: -Producer goods refer to the types of products used by producers in their production processes. They include capital goods (such as machinery, parts, and equipment), semi-finished products, and raw materials. Was this answer helpful?
Detailed explanation-4: -Intermediate goods are referred to as goods that are used by businesses for producing goods or services. These goods are also known as producer goods. In other words, intermediate goods are used for producing final goods or consumer goods.