Differentiate between consumer goods and producers’ goods.

1.	Differentiate between consumer goods and producers’ goods.
Answer» Consumer goods are the goods finally used by the consumers to satisfy their wants. These goods directly satisfy human wants. Producer goods are those goods, which are used by the producers to produce more goods or continue the process of production. The examples of consumer goods are milk, food, a TV set; car etc and that of producers’ goods are machines, tools, equipments etc.

Answer»

Consumer goods are the goods finally used by the consumers to satisfy their wants. These goods directly satisfy human wants.

Producer goods are those goods, which are used by the producers to produce more goods or continue the process of production.

The examples of consumer goods are milk, food, a TV set; car etc and that of producers’ goods are machines, tools, equipments etc.

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Differentiate between consumer goods and producers’ goods.

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