ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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product that one individual can consume without reducing its availability to another individual, and from which no one is excluded
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are goods, such as partly finished goods, used as inputs in the production of other goods including final goods.
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Either A or B
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None of the above
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Detailed explanation-1: -What Is an Intermediate Good? An intermediate good is a product used to produce a final good or finished product-also referred to as a consumer good. Intermediate goods-like salt-can also be finished products, since it is consumed directly by consumers and used by producers to manufacture other food products.
Detailed explanation-2: -Intermediate goods are referred to as goods that are used by businesses for producing goods or services. These goods are also known as producer goods. In other words, intermediate goods are used for producing final goods or consumer goods.
Detailed explanation-3: -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-4: -Final goods are referred to as those goods which do not require further processing. These goods are also known as consumer goods and are produced for the purpose of direct consumption by the end consumer. Intermediate goods are referred to as those goods that are used by businesses in producing goods or services.
Detailed explanation-5: -Some examples of intermediate goods include: Salt: Salt is an intermediate good because companies include it in the final product of many food and nonfood items. Wheat: Like salt, wheat is an intermediate good because companies process it as part of another product, usually food or food-related goods.