Question

In order to increase the capital stock, society must divert ______ that could be otherwise used to increase the supply of _____

Answer 1

In order to increase the capital stock, society must divert resources that could be otherwise used to increase the supply of consumer goods.

Consumer goods:

• Consumer and capital goods are the two main categories of products produced in the economy, and if capital stock has to rise, resources for capital goods must also rise, reducing the supply of consumer goods.
• Customer goods are items that the typical consumer purchases for consumption. Consumer goods, also known as final goods, are the products of production and manufacture and are what shoppers will find placed on store shelves. Consumer goods include items like jewelry, clothing, and food.
• Any tangible good produced and later purchased to satiate the buyer's present requirements and perceived wants is referred to as a consumer good in economics. Durable, nondurable, and services are the three subcategories of consumer products.
• Consumer products can be divided into four categories. They are shopping items, specialty items, convenience items, and unanticipated items.

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