The goods that are used for the production of other goods are known as

Assessment: WAEC SSCE - Commerce - 1999 (Objective) Subject: Commerce

Question 1 Report

The goods that are used for the production of other goods are known as
Answer Details
Capital goods are the goods that are used for the production of other goods. They are also known as producer goods or investment goods. Examples of capital goods include machinery, equipment, tools, and buildings used in the production process. Capital goods are important for the production of other goods and services, and are therefore considered an important factor in economic growth and development.
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