Producers' Good: Difference between revisions
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Daniel Sanchez: | Daniel Sanchez writes: | ||
<blockquote>Indirectly serviceable means are called factors of production or producers' goods. Producers' goods that directly produce consumers' goods (goods of the first order) are called goods of the second order. Producers' goods that directly produce goods of the second order are called goods of the third order, and so on. As we progress in this manner, we move from lower-order goods to higher-order goods.<ref>Daniel James Sanchez, [http://mises.org/daily/5285/Mises-on-Action Mises on Action]</ref></blockquote> | <blockquote>Indirectly serviceable means are called factors of production or producers' goods. Producers' goods that directly produce consumers' goods (goods of the first order) are called goods of the second order. Producers' goods that directly produce goods of the second order are called goods of the third order, and so on. As we progress in this manner, we move from lower-order goods to higher-order goods.<ref>Daniel James Sanchez, [http://mises.org/daily/5285/Mises-on-Action Mises on Action]</ref></blockquote> | ||
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Revision as of 03:20, 31 July 2011
Daniel Sanchez writes:
Indirectly serviceable means are called factors of production or producers' goods. Producers' goods that directly produce consumers' goods (goods of the first order) are called goods of the second order. Producers' goods that directly produce goods of the second order are called goods of the third order, and so on. As we progress in this manner, we move from lower-order goods to higher-order goods.[1]
- ↑ Daniel James Sanchez, Mises on Action