Question

Which of the following is an example of a consumer good?

• A. A machine used in a factory
• B. A taxi purchased by a company for commercial use
• C. A refrigerator bought for home use
• D. A building purchased by a firm for office space

Hint:

If a good is bought by a household for direct use, it is a consumer good. If it is used by a firm for production or business, it is a capital good.

Answer 1

The Correct Option is C

Concept:
Consumer goods are goods purchased by households for direct satisfaction of wants. They are not used for further production or commercial earning.
Step 1: Understand consumer goods.
A consumer good is used directly by the final consumer. For example: food, clothes, television, refrigerator for home use

Step 2: Check option A.
A machine used in a factory is used for production. So, it is a capital good, not a consumer good.
Step 3: Check option B.
A taxi purchased by a company for commercial use is used to earn income. So, it is also a capital good.
Step 4: Check option C.
A refrigerator bought for home use is used directly by a household. It gives direct satisfaction and is not used for production. So, it is a consumer good.
Step 5: Check option D.
A building purchased by a firm for office space is used for business purposes. So, it is not a consumer good. Hence: \[ \boxed{\text{A refrigerator bought for home use}} \] Therefore: \[ \boxed{\text{(C)}} \]