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Define consumption goods. Give two examples. - Economics

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Question

Define consumption goods. Give two examples.

Definition
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Solution

Goods which are consumed (or used) by the consumers for satisfaction of wants are called consumption goods.

Two examples –

  1. Bread purchased by a household 
  2. Car purchased by a household
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Chapter 3: Basic Concepts of Economics - QUESTION BANK [Page 51]

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J. P. Goel and Kaushal Goel Economics [English] Class 9 ICSE
Chapter 3 Basic Concepts of Economics
QUESTION BANK | Q 7. | Page 51
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