Identify the goods that are of durable character and are used in the production process.
Answer & explanation
Correct answer: option 3
The correct answer is option (3) : Capital Goods
Capital goods are durable assets that are used by businesses to produce consumer goods or services. Unlike consumer goods that are directly used for personal consumption, capital goods are employed in the production process. They include machinery, equipment, buildings, and other tools that contribute to the production of goods and services. Therefore, the term "Capital Goods" accurately describes durable items used in the production process.