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Economics miscellaneous

  1. A hammer in the hands of a house-wife is a ______ good.
    1. consumer
    2. capital
    3. free
    4. intermediary
Correct Option: D

Good is any tangible item, whether produced or found naturally and which is available for exchange. Free good is a good that is so abundant is supply that it has no opportunity cost, for example, air. Intermediary good is a firm’s product that is used as an input into the production process of either the same firm or another.



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