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Question : Goods which are meant either for consumption or for investment are called

Option 1: final goods

Option 2: giffen goods

Option 3: inferior goods

Option 4: intermediate goods


Team Careers360 9th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: final goods


Solution : The correct option is final goods .

Final goods are products ready for direct use by consumers or businesses and no longer in production. They satisfy immediate needs or wants. There are two types of final goods:

  • (a) Consumer goods: directly consumed by individuals, like food, clothing, electronics and automobiles.
  • (b) Capital goods: used by businesses to produce other goods and services.
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