0

Guest

Courses New

question :Differentiate between Intermediate and Final Goods.

question :Differentiate between Intermediate and Final Goods.

 
 
 

Grade:12

2 Answers

Vikas TU
14149 Points
2 years ago
Dear student 
Intermediate goods refer to those goods which are used either for resale or for further production in the same year. 
Final goods refer to those goods which used either for consumption or for investment. 
ankit singh
askIITians Faculty 614 Points
2 years ago

ANSWER

 

 Intermediate goods   Final goods 
Intermediate goods refer to those goods which are used either for resale or for further production in the same year. 
 
 Final goods refer to those goods which used either for consumption or for investment. 
They are not ready for use in the sense some value has to be added to the intermediate goods.  They are ready for use in the sense that no value has to be added.
They are still within the production boundary. They are ready for use in the sense that no value has to be added.
For example, coal used in factory for further production. For example, milk purchased by household for consumption. 
 

Think You Can Provide A Better Answer ?

Other Related Questions on 7 grade science

View all Questions »

View courses by askIITians

Design classes One-on-One in your own way with Top IITians/Medical Professionals

Click Here Know More

Complete Self Study Package designed by Industry Leading Experts

Click Here Know More

Live 1-1 coding classes to unleash the Creator in your Child

Click Here Know More

a Complete All-in-One Study package Fully Loaded inside a Tablet!

Click Here Know More