Products or services purchased for use in the production of other goods or services, in the operation of a business, or for resale to other consumers. Industrial products include heavy machinery, raw materials, tools, and computer equipment.
Intermediate goods are materials or components that are transformed by production processes into another form, often used to create final goods. For example, steel is an intermediate good that can be transformed into automobiles or ships.
Producer goods, also known as intermediate or capital goods, are newer machinery and equipment bought for business use. These are durable goods used in business production to assist in the production of consumer goods and services.
