ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Medium quality
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Goods that businesses make to make final goods
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Goods exported to other countries
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Goods imported from other countries
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Detailed explanation-1: -Intermediate goods are those goods which are used in the production of final goods. Some examples of intermediate goods are wheat, soil, crude oil, steel, sugar etc.
Detailed explanation-2: -“Products that are made during a manufacturing process but that are also used in the production of other goods. Wood, steel, and sugar are all examples of intermediate goods.”
Detailed explanation-3: -For example, sugar can be used as an intermediate good for making sweets but when sold to customers directly for household usage, it becomes a final good. In short, if the ultimate usage of a product is a further investment or direct consumption then it is a final product.
Detailed explanation-4: -Intermediate goods are items used as input in the production process of finished goods. They are transformed beyond recognition in the process or incorporated into the finished good as a component.
Detailed explanation-5: -Intermediate goods are products that are used in the production process to make other goods, which are ultimately sold to consumers. The intermediate goods are sold industry-to-industry for resale or to produce other products.