ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Yes, durable goods can be capital goods (man-made, durable items used by businesses to produce goods and services, like tools, buildings, vehicles, machinery, and equipment), as well as consumer goods.

Detailed explanation-2: -Intermediate goods are products that are used in the production process to make other goods, which are ultimately sold to consumers. The intermediate goods are sold industry-to-industry for resale or to produce other products.

Detailed explanation-3: -Capital goods are used to manufacture other goods. 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.

Detailed explanation-4: -Capital goods include buildings, machinery, equipment, vehicles, and tools.

Detailed explanation-5: -Capital goods are the assets used by businesses in the course of producing their products and services, and can include buildings, machinery, tools and equipment. Capital resources is a higher-level concept, defined slightly differently by different scholars.