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3 years ago

What is the difference between industrial and consumer goods?

2 answers:

7 0

Industrial goods are bought and used for industrial and business use. Consumer goods are ready for the consumption and satisfaction of human wants. While industrial goods are made up of machinery, plants, and raw materials, consumer goods are commodities purchased by a buyer like clothing, food, and drinks.

lina2011 [118]3 years ago

4 0

“Industrial goods are materials used in the production of other goods.” “Consumer goods are finished products that are sold to and used by consumers”

LINK TO WHERE I FOUND THAT INFO:
https://www.investopedia.com/ask/answers/050415/how-are-industrial-goods-different-consumer-goods.asp

Hope that helped have a great day! :)

You might be interested in

The demand for salt is inelastic, and the supply of salt is elastic. The demand for caviar is elastic, and the supply of caviar

stellarik [79]

Answer:

<h2>In the case of the salt,the salt buyers would bear most of the tax burden and for caviar,the sellers would bear most of the tax burden.Hence,the correct answer is option b. or buyers of salt and the sellers of caviar.</h2><h2 />

Explanation:

In the case of salt,the supply is more elastic than the demand which implies that the salt sellers are relatively more responsive to salt price change in the market.Therefore,if any tax is imposed on them,it would basically translate into higher production cost for the sellers and due to price elasticity of supply,the sellers would pass the tax to the salt consumers who are comparatively less price sensitive.Now,since the consumer demand for salt is inelastic and the consumers are relatively price insensitive,the consumers won't perhaps mind paying a higher market price for salt including the extra tax.Hence,in this instance,the tax burden would fall on the salt buyers or consumers.

On the other hand,based on the same line of argument,the tax burden would fall on the sellers of caviars as the price elasticity of caviar supply is less than that of the caviar demand.In this case,the caviar sellers are less sensitive about changes in market price of caviars and thus,won't mind paying a relatively higher production cost/expense which is inclusive of the tax burden.Due to higher price elasticity of demand or price responsiveness,the cavier consumers would be reluctant to bear the tax burden and pass it onto the sellers.

8 0

3 years ago

When Paul listened to the presidential candidate debates, he heard one candidate proposing to increase taxes and the other candi

lord [1]

Answer:

as taxes increase, there is a decrease in supply

Explanation:

6 0

3 years ago

The economic term for the want-satisfying ability, or value, that organizations add to goods or services is

Lana71 [14]

The economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.

<h3>What is utility?</h3>

Utility refers to the amount of satisfaction a consumer derive from the consumption of certain commodities.

It is the importance or value added to a product or service that helps gives the consumer useful information about all products and services.

Hence, the economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.

Learn more about utility here : brainly.com/question/24848038

4 0

2 years ago

On March 1, 2018, Gold Examiner receives $165,000 from a local bank and promises to deliver 100 units of certified 1-oz. gold ba

photoshop1234 [79]

Answer:

<u><em>there are two performance: </em></u>

the sales revenue and the insurance.

cash 165,000 debit

unearned revenues 165,000 credit

--to record collectiong from local bank

unearned revenues 165,000 debit

sales revenues 151,000 credit

insurance liability 9,900 credit

--to record gold delivered to Brink's--

insurance liability 9,900 debit

insurance fees earned 9,900 credit

--to record reception of bank from Brink/end of the insurance--

Explanation:

sales revenue

100 x 1,410 = 141,000 = 94%

insurance:

100 x 90 = 9,000 = 6%

total 150,000

combo: 165,000

sales revenue: 165,000 x 94% = 155,100

insurance fee earned: 165,000 x 6% = 9,900

7 0

3 years ago

Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most bal

Paladinen [302]

Answer:

1. The GDP deflator for this year is calculated by dividing the <u>value of all goods and services produced in the economy this year</u> using <u>this year's prices </u>by the <u>value of all goods and services produced in the economy this year </u>using <u>the base year's prices</u> and multiplying by 100.

This is why the formula for the GDP deflator is = GDP by year n prices/ GDP by base year prices.

2. However, the CPI reflects only the prices of all goods and services<u> bought by consumers. </u>

<u />

3. Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in? - <em><u>B) CPI</u></em>

The Chinese-made car is not made in the US and is included in the basket of goods consumers buy which is used to calculate calculate CPI.

4. Which does a decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine that cuts and stacks trees show up in? - <em><u>A) GDP Deflator</u></em>

This is not part of the goods in the basket and it is assumed to be made domestically so it is part of the GDP Deflator.

4 0

3 years ago