Iron ore is an example of a:
A)durable good
B)producers' good
C)nondurable good
D)consumer good
E)none of the above

Name: Iron ore is an example of a: A)durable good B)producers' good C)nondurable good D)consumer good E)none of the above
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Question

Quizplus · Accepted Answer

Iron ore is a raw material used in the production process of steel. Therefore, it is considered a producers' good or an intermediate good as it is not directly consumed by the end consumer but rather used in the production process.

Iron Ore Is an Example of A