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Economics miscellaneous

  1. A camera in the hands of a professional photographer is a _______ good.
    1. Free
    2. Intermediary
    3. Consumer
    4. Capital
Correct Option: B

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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