BUISENESS MANAGEMENT
PACKAGING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The day of the month that the good is purchased
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Who purchased the product and how it is used
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How much the buyer is charged for the product
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Was the good purchased with cash or credit
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Detailed explanation-1: -Industrial goods are bought and used for industrial and business use. Consumer goods are ready for the consumption and satisfaction of human wants. While industrial goods are made up of machinery, plants, and raw materials, consumer goods are commodities purchased by a buyer like clothing, food, and drinks.
Detailed explanation-2: -The value of an item is often depicted by its price in the market. When determining this, producers often factor in the production cost. The unlimited wants of customers do not affect the value of the product. For example, water is an unlimited want, yet its value in terms of price is low.
Detailed explanation-3: -Capital goods and consumer goods are terms used to describe goods based on their use. A capital good is any good used for production. Consumer goods are those used by consumers and have no future productive use. The same physical good could be either a consumer or capital good, depending on how the good is used.