Please tell answer of this question with reason. Urgently needed
Dear Student,
A tractor can never be a consumer good.
Reason:
A tractor is a product used for production purposes and not by general consumers to satisfy their daily needs. The tractor is of course a final product as it is the end product of a production process. It is an intermediate good because it is further used in the process of production of various products. It is a capital good too as it considered as a capital investment for a longer period in the production process.
Regards
A tractor can never be a consumer good.
Reason:
A tractor is a product used for production purposes and not by general consumers to satisfy their daily needs. The tractor is of course a final product as it is the end product of a production process. It is an intermediate good because it is further used in the process of production of various products. It is a capital good too as it considered as a capital investment for a longer period in the production process.
Regards