Question
A hammer in the hands of a house-wife is a ______ good.
Answer: Option B
Answer: (b)
Good is any tangible item, whether produced or found naturally and which is available for exchange. A free good is a good that is so abundant in supply that it has no opportunity cost, for example, air.
Intermediary good is a firm’s product that is used as an input into the production process of either the same firm or another.
Was this answer helpful ?
Answer: (b)
Good is any tangible item, whether produced or found naturally and which is available for exchange. A free good is a good that is so abundant in supply that it has no opportunity cost, for example, air.
Intermediary good is a firm’s product that is used as an input into the production process of either the same firm or another.
Was this answer helpful ?
More Questions on This Topic :
Question 2. ‘Hire and Fire’ is the policy of
....
Question 3. Tax on inheritance is called....
Question 6. Effective demand depends on
....
Question 8. Inflation is a situation characterised by....
Latest Videos
Latest Test Papers
Submit Solution