Goods that are of durable nature and are used in the production process are known as ?

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ACapital goods

BDistrict goods

CBoth of these

DNone of these

Answer:

Capital goods are physical assets that a company uses in the production process to manufacture products and services that consumers will later use.

Related Questions:

Which of the following statements accurately describe the sectors of the Indian economy and related concepts?

The primary sector is characterized by activities that directly utilize natural resources and is often referred to as the agricultural sector.
The secondary sector, also known as the service sector, focuses on providing services rather than manufacturing goods.
The tertiary sector is responsible for manufacturing goods using raw materials from the primary sector.
Economic growth occurs when the primary, secondary, and tertiary sectors operate independently without any interrelation.

What is the primary sector also referred to as, given its significant agricultural component?

The primary sector is commonly known as the industrial sector.
Due to the major role of agriculture, the primary sector is also called the agricultural sector.
The service sector is another name for the primary sector.