Long-lived, produced goods used for producing other goods and services are called:

Question

Quizplus · Accepted Answer

Long-lived goods used for producing other goods and services are called capital goods. Consumption goods are goods purchased for immediate satisfaction of wants or needs. Non-market goods are goods provided by the government or non-profit organizations for free or at a minimal cost. Value-added goods are goods that have value added in every step of the production process.

Long-Lived, Produced Goods Used for Producing Other Goods and Services