Goods which are consumed by the ultimate consumers or meet the immediate need of the consumer, and which may include services as well, are called:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Consumption goods
Goods that meet the immediate need of the consumer, services included, are consumption goods.
NCERT (2026-27): Glossary: “Consumption goods – Goods which are consumed by the ultimate consumers or meet the immediate need of the consumer are called consumption goods. It may include services as well.” |