Machines, tools and Implements, and buildings are examples of which type of goods?

Question

Question

This question was previously asked in

SSC CGL 2023 Tier-I Official Paper (Held On: 17 Jul 2023 Shift 1)

Answer 1

The correct answer is Capital goods.Key Points

Machines, tools, and implements, and buildings are examples of capital goods.
Capital goods are the goods that are used in the production of other goods and services.
These goods are also known as durable goods, as they have a long lifespan and are used repeatedly in the production process.
Capital goods are an important factor in the growth of an economy, as they increase the efficiency of production and lead to increased output.

Additional Information

Consumer goods are the goods that are used by individuals for personal consumption.
Intermediate goods are partially finished goods that are used as inputs in the production of other goods. They are not sold directly to consumers, but rather are used to make finished goods that are then sold to consumers Inferior goods are the goods whose demand decreases with an increase in income.
Hence, the correct option is 4) Capital goods.