Firm Industry Product Input Consumer and Capital Goods Q4

Q.
(a) Explain the difference between consumer goods and capital goods. (8 marks)

(b) Explain the following 'term' with suitable examples.

(i) Firm (4 marks)

(ii) Industry (4 marks)

(iii) Production input (4 marks)

(20 marks, 2015 Q4)

A.

Ref: