Distinguish between final consumption and intermediate consumption. Gi

1.	Distinguish between final consumption and intermediate consumption. Give suitable examples.
Answer» Final consumption refers to the demand for various goods and services for current consumption. It satisfies consumer’s needs directly. Demand from final consumption comes from two sectors. They are: (i) General government, and (ii) Households. Intermediate consumption means use of non-factor inputs for the purpose of production of goods and services. For example non-factor inputs used in production of wheat are: seeds, fertilizers, water etc.

Distinguish between final consumption and intermediate consumption. Give suitable examples.

Answer»

Final consumption refers to the demand for various goods and services for current consumption.

It satisfies consumer’s needs directly. Demand from final consumption comes from two sectors. They are: (i) General government, and (ii) Households.

Intermediate consumption means use of non-factor inputs for the purpose of production of goods and services. For example non-factor inputs used in production of wheat are: seeds, fertilizers, water etc.

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Distinguish between final consumption and intermediate consumption. Give suitable examples.

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