Question
Distinguish the following types of goods, citing examples in each case.
i). Intermediate and finished goods
ii). Material and Non Material goods
i). Intermediate and finished goods
ii). Material and Non Material goods
Answer
i). Intermediate and finished goods
a) Intermediate goods - Are goods that are consumed during the production process to become part of the final product i.e. sugarcane, cotton, skins, wool
b) Consumer goods are goods that are readily usable by the final consumer (user) - They satisfy human wants directly i.e. food, clothing.
ii). Material and Non Material goods
a) Materials goods - are commodities that are tangible like food, hooks, chairs, vehicle and shoes.
b) Non material goods - are services (intangible items) such as teaching nursing, warehousing, banking.
a) Intermediate goods - Are goods that are consumed during the production process to become part of the final product i.e. sugarcane, cotton, skins, wool
b) Consumer goods are goods that are readily usable by the final consumer (user) - They satisfy human wants directly i.e. food, clothing.
ii). Material and Non Material goods
a) Materials goods - are commodities that are tangible like food, hooks, chairs, vehicle and shoes.
b) Non material goods - are services (intangible items) such as teaching nursing, warehousing, banking.
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