ECONOMICS
HUMAN CAPITAL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Goods that are used in producing other goods, rather than being bought by consumers.
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true
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false
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -This statement is TRUE. There are two types of goods. The first is consumer goods, which are consumed by individuals in order to increase utility. The second is capital goods, which are used in the production of other goods.
Detailed explanation-2: -The purpose of capital goods is to help produce other products. They are meant to be used for production, while consumer goods are bought for personal and final consumption.
Detailed explanation-3: -Capital Resources (capital goods) Goods made by people and used to produce other goods and services (machines and factories).
There is 1 question to complete.