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in Basic Concepts of National Income by (65.1k points)

What do you mean by consumption goods?

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Consumption goods are those goods which are used by end-users to satisfy their needs and desires. These goods are consumed fully after purchase. Consumption goods are not used as raw materials to produce new goods. Generally, business firms store consumption goods for delivery to end-users. Being a final product, these are included in the calculation of national income. The examples of consumer goods are food, cloth, vehicles, radio, television, books, etc. Consumption goods include services, non-durable and durable goods, etc.

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