INDUSTRIAL PRODUCT● MATERIALS AND PARTS ARE INDUSTRIAL GOODS THAT...

4. Industrial product● Materials and parts are industrial goods that become a part of the buyer’s product,through further processing or as components. They include raw materials andmanufactured materials and parts.● Raw materials consist of farm products (wheat, cotton, livestock, fruits, vegetables)and natural products (fish, timber, crude petroleum, iron ore).● Manufactured materials and parts include component materials (iron, yarn, cement,wires) and component parts (small motors, tyres, castings). Component materials areusually processed further