What are producer goods?
- Producer goods are products used to make consumer goods.
How Do I Remember it?
- Think of “producer goods” as items that producers (businesses and industries) use in the production process. The emphasis is on the word “producer,” indicating that these goods are used by producers to create other products.
Real World Example
- An example of producer goods would be machinery, equipment, raw materials, and other resources that a car manufacturing company uses to produce automobiles.
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By: Ryan Aquino
