IAS General Studies Prelims Question No. 25
Which of the following is/are example(s) of consumer goods?
1. Machinery
2. Jewelry
3. Automobiles
4. Land
5. Labour
Select the correct option from the codes given below:
[A] 2 and 3 Only
[B] 1,2 and 3 Only
[C] 1,4 and 5 Only
[D] 1,2,3,4 and 5
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[A] 2 and 3 Only
Consumer goods are goods that are ultimately consumed rather than used in the production of another good. Machinery is a capital good since it is used in the production of another goods. Land and labour are factors of production.
[/toggle][/toggles]Consumer goods are goods that are ultimately consumed rather than used in the production of another good. Machinery is a capital good since it is used in the production of another goods. Land and labour are factors of production.