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National Income Accounting — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNational Income Accounting2 Marks
Question
Explain the basis of classifying goods into intermediate and final goods. Give suitable examples.
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Answer

Goods which are purchased by a production unit from other production units and meant for resale or for using up completely during the same year are called intermediate goods.

Example: Raw materials.
Goods which are purchased for consumption and investment are called final goods.

Examples: Purchased of machinery for installation in factory.

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