ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Intermediate goods are sold between industries for resale or the production of other goods. These goods are also called semi-finished products because they are used as inputs to become part of the finished product.

Detailed explanation-2: -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-3: -Intermediate inputs of an industry are the goods and services (including energy, raw materials, semi-finished goods, and services that are purchased from all sources) that are used in the production process to produce other goods or services rather than for final consumption.

Detailed explanation-4: -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-5: -An intermediate good refers to partially finished goods that are then used as an input ton the production of other goods that become final goods. Intermediate goods are an integral part of the production process, and as such, they are also known as producer goods.