Question

George has just saved enough money to buy the car he’s dreamed of. He puts down $5,000 in cash and finances the rest through his local credit union. George’s car is Question 16 options: A capital good A consumer good A renewable resource A production cost

Answer 1

Option B

George’s car is A consumer good

Explanation:

Consumer goods are things acquired by somebody for their own use, slightly than by patronages. Consumer good, in commerce, any actual property manufactured and finally bought to meet the prevailing demands and noted requirements of the customer. Consumer durable goods have a vital life extent.

The endurance and the often more high-priced of durable goods habitually prompt purchasers to defer investments on them, which creates durables the most changeable segment of consumption. Obvious precedents of consumer durable goods are vehicles, chattels, etc.