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Lumber, copper and zinc used to create a final product are classed as what?
ARaw materials, which have had little processing
BAccessories, which are standardized capital goods
CInstallations, which shape the scope of the firm
DSupplies, which never enter the finished product
Answer & Solution
Correct answer: A. Raw materials, which have had little processing
1. Raw materials are expense items that have undergone little or no processing.
2. They are used to create a final product.
3. Lumber, copper and zinc are the named examples.
4. Supplies never enter the finished product, so they are a different class.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.6 What Is a Product?_
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