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WAEC Commerce 1995 Question 14

Question 14

Production

Goods are usually classified into

  1. A.saleable and non- saleable goods
  2. B.inferior and superior goods
  3. C.luxurious and essential goods
  4. D.producer and consumer goods
  5. E.home made and foreign made goods
Show the answer and explanation

Answer: D (producer and consumer goods)

Explanation

Goods are normally grouped as producer (capital) goods and consumer goods.