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define the following 1 final goods 2 intremediate good |
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Answer» 1)Final goods are the goods produced ready to be sold and used by the consumer.Example buiscuit made in a buiscuit factory.2) Intermediate goods are the goods which serve as the raw material for some other industry.Example flour produced by the flour mill serves as the raw material for a buiscuit factory. An intermediate good is a product used to produce final goods or finished products.These goods are sold bw industries for resale or the production of other good.One ex. of intermediate good is SALT,a product that is directly consumed but also used to produce other food material. |
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