Distinguish between final goods and intermediate goods. Give an e… - Vidyadip

Question

Distinguish between final goods and intermediate goods. Give an example of each.

✓

Answer

Goods purchased for consumption and investment are final goods.
Example: Machinery purchased by a factory.
Good purchased for resale or for using up completely during year are intermediate goods.
Example: Raw materials purchased by a factory.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from National Income Accounting→National Income Accounting — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

Explain the role of taxation in reducing excess demand.

Explain the 'standard of deferred payment' function of money.

What precautions are necessary while measuring the final expenditure on Gross Domestic Product?OR
Explain briefly five precautions required to be taken in estimating National Income by expenditure method.

Give meaning of an Economy.

How will you treat ₹ 20,000 earned per month by Mr. Rajesh against hiring out his bus to a neighboring school?

Give one example of negative externality.

Distinguish between domestic product and national product. When can domestic product be more than national product?

Giving reason, classify the into stock or flow.
Foreign Remittances (In flow of money).

Classify the into consumer, intermediate or capital goods.
Cycle purchased by a consumer household.

What is a positive externality?
Activity resulting in benefits to others is called a positive externality.