Define consumer products.
(b) List and explain three modes of transportation a company could use for business.
(c) List and explain three categories of industrial products
Definition of consumer products:
Consumer products are a set of goods that are purchased by individuals and households for personal consumption and not for resale.
(b) Listing and Explanation of modes of transportation a company could use for business:
I. transportation: This involves the movement of the company's goods and personnel from the place of production to consumers with the use of trucks, trailers, buses, etc..
ii. Air transportation: This involves the movement of goods and personnel with the use of aircraft
iii Water transportation: With water transportation, the company's goods and personnel would be conveyed to distributors in different locations with the use of boats, ships, etc.
iv. Pipeline transportation: This involves the use of pipes linked to one another in line to move the company's product from the point of production or storage to the consumers, e.g., cooking gas. petroleum products and sand dredging
v..Rail transportation: this is the movement of the company's goods and personnel with the use of trains running on a railway.
(c) Listing and explanation of the categories of industrial products
i.Raw materials products \primary product are the goods that were actually put into the production of other goods that have not been processed, such as extractive commodities and farm produce called primary products;
ii. Work-in-progress/secondary products are goods that have undergone processing that are further used to produce other goods called semi-finished goods or secondary products;
iii. Machines and equipment/Tertiary products/Capital goods are the machines and equipment companies use in processing raw material and semi-finished goods into finished goods, such as installations, computers, tractors, etc..
iv. Machine spare parts and tools/component parts: These are products used for repairing machines and equipment in the case of a breakdown.
v. Operational supplies and services: are miscellaneous products and stationaries that enhance the operation of machines and office operations, such as lubricants, papers, and brooms for window cleaning for office and machine maintenance;
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