What is primary goods and secondary goods

Economics

ScanSolve AI Answer

Answer

Primary goods are raw materials or basic foodstuffs obtained directly from the earth or from agriculture. Examples include crude oil, iron ore, wheat, and cotton.

Secondary goods are manufactured products made from primary goods. These are finished or semi-finished goods produced by industries. Examples include steel (from iron ore), gasoline (from crude oil), bread (from wheat), and clothing (from cotton).

Was this helpful?

Still stuck on this one?

Ask a follow-up, and the answer starts from this question.

Got a different question?Ask your own question