{"id":8703,"date":"2024-04-15T03:04:51","date_gmt":"2024-04-15T03:04:51","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=8703"},"modified":"2024-04-15T03:04:51","modified_gmt":"2024-04-15T03:04:51","slug":"what-do-you-call-any-particular-raw-material-or-primary-product-such-as-cloth-wool-flour-coffee-etc-a-utility-b-necessity-c-commodity-d-stock","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/what-do-you-call-any-particular-raw-material-or-primary-product-such-as-cloth-wool-flour-coffee-etc-a-utility-b-necessity-c-commodity-d-stock\/","title":{"rendered":"What do you call any particular raw material or primary product such as cloth, wool, flour, coffee, etc.? A. Utility B. Necessity C. Commodity D. Stock"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Utility&#8221; option2=&#8221;Necessity&#8221; option3=&#8221;Commodity&#8221; option4=&#8221;Stock&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is C. Commodity.<\/p>\n<p>A commodity is a good that is widely available and has no distinct characteristics from other goods of the same type. Commodities are typically traded on an exchange, and their prices are determined by supply and demand.<\/p>\n<p>Some examples of commodities include:<\/p>\n<ul>\n<li>Agricultural products: wheat, corn, soybeans, coffee, sugar, cotton<\/li>\n<li>Metals: gold, silver, copper, iron ore, oil<\/li>\n<li>Energy: crude oil, natural gas, coal<\/li>\n<li>Livestock: cattle, hogs, sheep<\/li>\n<\/ul>\n<p>Commodities are often used as a hedge against inflation or other economic risks. They can also be used as a way to diversify an investment portfolio.<\/p>\n<p>Option A, utility, is incorrect because it refers to something that is useful or serves a purpose. Option B, necessity, is incorrect because it refers to something that is essential or required. Option D, stock, is incorrect because it refers to shares in a company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Utility&#8221; option2=&#8221;Necessity&#8221; option3=&#8221;Commodity&#8221; option4=&#8221;Stock&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[656],"tags":[],"class_list":["post-8703","post","type-post","status-publish","format-standard","hentry","category-engineering-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What do you call any particular raw material or primary product such as cloth, wool, flour, coffee, etc.? A. Utility B. Necessity C. Commodity D. 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