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JAMB Commerce 2006 Question 29

Question 29

Production

Materials used for further production of goods and services are known as

  1. A.export goods
  2. B.intermediate goods
  3. C.capital goods
  4. D.consumer goods.
Show the answer and explanation

Answer: B (intermediate goods)

Explanation

Intermediate goods are materials and parts that go into making other goods, such as flour for bread. Capital goods are tools and machines that are used again and again.