Public goods
Consumer goods
Capital goods
Agricultural goods
Answer is Right!
Answer is Wrong!
The correct answer is: C. Capital goods
Capital goods are goods that are used to produce other goods and services. They are also known as investment goods. Examples of capital goods include machines, tools, and buildings.
If there is a lesser production of capital goods, then there will be a lesser production of other goods and services in the future. This is because capital goods are essential for the production of other goods and services. Without capital goods, businesses would not be able to produce the goods and services that we need.
Here is a brief explanation of each option:
- Public goods are goods that are non-rival and non-excludable. This means that they can be consumed by multiple people at the same time without one person’s consumption diminishing the amount available for others, and it is difficult or impossible to prevent people from consuming the good. Examples of public goods include national defense, law enforcement, and street lighting.
- Consumer goods are goods that are used by individuals for their own personal consumption. Examples of consumer goods include food, clothing, and entertainment.
- Agricultural goods are goods that are produced by agriculture. Examples of agricultural goods include crops, livestock, and fish.
I hope this helps!