Which of the following is/are capital good(s)?

Vegetables

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Clothing

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Industrial machines

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Cleaning products

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Solution

The correct option is C Industrial machines
Capital goods are physical assets that a company uses to manufacture products and services that consumers will later use. Industrial machines are an example of capital goods. Vegetables, clothing, and cleaning products are examples of consumer goods.

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Q25. Which of the following statements are correct?

1. A mixed economy refers to market economy with strong regulatory oversight and governmental provision of public goods.

2. A socialist economic system is characterized by social ownership and democratic control of the means of production.

3. Capitalism is an economic system in which capital goods are owned by private individuals.

4. Marxian economics provided a foundation for capitalism.

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