Question : Goods which are of durable character which are used in the production process are called_______.
Option 1: capital goods
Option 2: veblen goods
Option 3: consumption goods
Option 4: complementary goods
Correct Answer: capital goods
Solution : The correct answer is capital goods.
Capital goods are items such as buildings, machinery, and tools that are used to produce consumer goods, or services. Capital goods are of durable character items and differ from consumer goods and services. Consumer goods and services are the products used by consumers which include food, clothing etc. These are the end product of production and manufacturing.
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