Classification of Industrial Goods Homework Help

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What are industrial goods? What are their different classifications?     

Industrial goods are goods, which can be used for resale purpose. They can even be used as intermediate goods in producing other goods, or even for proving services. There are three major types of industrial goods: materials and parts, capital items, supplies and business services.

Raw materials can be mainly classified into farm products like wheat, rice as well as into natural products like fish, timber. Manufactured materials can be classified into component materials and component parts. Component materials are processed further while component parts undergo no further changes because they are directly used in final products.

Capital goods last for a long period of time which helps in developing and maintaining final goods. Capitals goods are mainly of two types, installations and equipments. Installations include purchases of buildings for offices or factories. Equipments can be office equipments like computers as well as tools like hand tools are not directly used in final products, but, are used for production process.

Supplies and business services are short lasting which can be used for developing final products as well as for managing them. Supplies are also majorly of two kinds like, operating supplies, maintenance, repair items. Business services include services for maintenance, repairing, business suggestion services. Industrial goods have been discussed in details by our Classification of Industrial Goods Assignment Help team.

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