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Q.

The Goods are produced for the sole purpose of?

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a

Consumption

b

Satisfaction with human wants

c

Both (1) & (2)

d

None of these

answer is C.

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Detailed Solution

Goods are produced for consumption and satisfying the human wants.
The goods produced by the manufacturing unit through manufacturing or processing have their primary goal and objective of consumption and satisfaction of human wants. This is so that people's needs can be met since all products and services are designed with people in mind. These manufactured commodities are put on the market for sale, where people can buy them based on their needs and wants and pay for them according to the goods purchased. Thus, this is how the cycle is finished.

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