The statement is **True**. Consumer goods are typically classified based on their relationship to production processes and end-use. The classifications you mentioned — raw materials, materials and parts, capital goods, and operating services — reflect the different types of goods that support production and consumption within the economy.

1. **Raw Materials**: These are unprocessed natural resources used in production.
2. **Materials and Parts**: These are processed goods that are used in manufacturing processes or as components in finished products.
3. **Capital Goods**: These are long-term goods that companies purchase to produce products, such as machinery or equipment.
4. **Operating Services**: These include services used in the production or operation of goods but are not tangible products themselves.

Each classification plays a critical role in the economy and supply chain management.

Question

The statement is **True**. Consumer goods are typically classified based on their relationship to production processes and end-use. The classifications you mentioned — raw materials, materials and parts, capital goods, and operating services — reflect the different types of goods that support production and consumption within the economy.

1. **Raw Materials**: These are unprocessed natural resources used in production.
2. **Materials and Parts**: These are processed goods that are used in manufacturing processes or as components in finished products.
3. **Capital Goods**: These are long-term goods that companies purchase to produce products, such as machinery or equipment.
4. **Operating Services**: These include services used in the production or operation of goods but are not tangible products themselves.

Each classification plays a critical role in the economy and supply chain management.

Knowee AI · Accepted Answer

The statement is **True**. Consumer goods are typically classified based on their relationship to production processes and end-use. The classifications you mentioned — raw materials, materials and parts, capital goods, and operating services — reflect the different types of goods that support production and consumption within the economy.

1. **Raw Materials**: These are unprocessed natural resources used in production.
2. **Materials and Parts**: These are processed goods that are used in manufacturing processes or as components in finished products.
3. **Capital Goods**: These are long-term goods that companies purchase to produce products, such as machinery or equipment.
4. **Operating Services**: These include services used in the production or operation of goods but are not tangible products themselves.

Each classification plays a critical role in the economy and supply chain management.

Consumer goods are classified into raw materials, materials and parts, capital goods, and operating services.Group of answer choicesTrueFalse

Question

Consumer goods are classified into raw materials, materials and parts, capital goods, and operating services.

Solution

Similar Questions

Upgrade your grade with Knowee