Which of the following is/are example(s) of consumer goods?
1. Machinery
2. Jewelry
3. Automobiles
4. Land
5. Labour
Select the correct option from the codes given below:

Answer: [A] 2 and 3 Only

Consumer goods are goods that are ultimately consumed rather than used in the production of another good. Machinery is a capital good since it is used in the production of another goods. Land and labour are factors of production.

This question is a part of GKToday's Integrated IAS General Studies Module