Question

Ryan, a successful entrepreneur, is planning to get into the petroleum business. He has bought two jack-up rigs running into millions of dollars to start the business. What type of product are these rigs examples of?

Answer 1

Answer: Installations

Explanation: Setting up installations would help Ryan start up his proposed petroleum business. Installations are defined as things installed or set up, especially the whole of a system of machines, apparatus, and accessories, when set up and arranged for practical working, as in electric lighting, transmission of power, and in this instance, the jack-up rigs Ryan bought to start the business.