Raw materials and equipment used in the production of other goods and services are called industrial goods.
More about industrial goods:
Consumer goods are finished goods that are sold to and utilised by people, where as industrial goods are raw materials used in the creation of other goods. Industrial goods are purchased and utilised for commercial and industrial purposes.
They are composed of equipment, production facilities, raw materials, and any other product or element that businesses or industries need. Consumer products, such as clothing or food, are prepared for consumption and satisfying human needs.
The demand for the consumer items they assist in producing determines the price of industrial goods.
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