Consumer goods companies and the industry offer a vast range of products that heavily contribute to the global economy. Also referred to as final products, examples of consumer goods include an Apple cellphone or a box of Oreo cookies. read more, consumer goods Consumer Goods Consumer goods are the products purchased by the buyers for consumption and not for resale.
They are one of the four factors of production- the other three being natural resources, labor, and entrepreneurship. They are used to produce the final goods that people consume daily. The final domestic supply comprises capital goods Capital Goods Capital goods are man-made assets used in the manufacturing process of a product. It is represented graphically by the aggregate supply curve-the relationship between goods produced and price levels. A country’s final domestic supply is calculated at the corresponding price level at a particular time.
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You are free to use this image on your website, templates etc, Please provide us with an attribution link How to Provide Attribution? Aggregate Supply ExplainedĪggregate supply is also known as the final domestic supply. Capital goods transform raw materials into finished products.
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