ENTREPRENEURSHIP

Detailed explanation-1: -Industrial goods are any goods that are bought and used for industrial and business use. They are made up of machinery, manufacturing plants, raw materials, and any other good or component used by industries or firms. Industrial goods are based on the demand for the consumer goods they help to produce.

Detailed explanation-2: -Industrial goods are classified as either production goods or support goods. Production goods are used in the production of a final consumer good or product, while support goods help in the production process of consumer goods such as machinery and equipment.

Detailed explanation-3: -Industrial goods are products used by businesses during the production of other goods. These are goods not usually intended for consumer use due to both the large size and high cost of the goods. Instead, businesses create these goods with the goal of selling them to other businesses.

Detailed explanation-4: -Consumer goods are products bought for consumption by the average consumer. Also called final goods, consumer goods are the end result of production and manufacturing. Clothing, food products, and dishwashers are examples of common consumer goods.