The first class consists of the things which man directly consumes or uses up in living. These are called “consumer goods” or perishable goods used and consumed in actually sustaining life; e. g. food, clothing, fuel, etc. The second class consists of capital or producer goods; e.g. a factory, freight car, or machine is wealth [...]
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This post was written by admin on March 26, 2009
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Money is anything commonly used and accepted as a medium of exchange. Money is the evidence that the possessor has parted with commodities or services and has not yet received its equivalent. Therefore, in the final analysis, money may be any object (paper, metal, beads) used as the receipt or acknowledgment of delivery of goods [...]
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This post was written by admin on March 15, 2009
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