Question

4. Distinguish between intermediate product and final product.
please help​

Answer 1

Answer:

INTERMEDIATE PRODUCTS : Intermediate product are the raw materials used in the production of finished goods and services . These Goods are either used for resale. ... FINAL PRODUCTS : Goods which are ready for consumption or capital formation by the final users. These Goods are neither used for resale.

Answer 2

Answer:

Final goods

• (i) The goods which are used either for final consumption or for capital formation.
• (ii) The value of final I goods is included in the national income.
• (iii) Example, television, bread or bakery products, etc.

Intermediate goods

• (i) The goods which are used up in producing the final goods and services.
• (ii) The value of intermediate goods is not included in the national income.
• (iii) Example, flour, cotton, etc.

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