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.
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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.
Originally written on
September 25, 2016
and last modified on
December 20, 2023.