Question

8.Classification of goods depend on the
(2 Points)

consumption of goods

production of goods

first use of goods

end-use of goods
​

Answer 1

Answer:

consumption of goods

production of goods

Answer 2

The correct answer is OPTION 4: End-use of goods.

• The end-use concept guides the classification of objects as intermediate or final.
• A good is considered an intermediate product if it is used as a raw material or for resale by producers, and a final good if it is purchased by consumers.
• Milk supplied to dairy producers in a community, for example, is considered an intermediate product, but milk sold to consumers is considered a final good.