Classify the following into intermediate goods and finals goods.
1 Curtain cloth purchased by a household
2 Machinery installed in an office
3 Ceiling fan purchased by a tailor in his shop
4 Chalks, dusters purchased by a school
5 A tractor used in farming
reward:100 points
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1.> intermediate goods.
2.> final goods.
3.> final goods.
4.> intermediate Good's
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The following can be classified as follows:
- INTERMEDIATE GOODS:
- A consumer good is a component of a finished offering.
- Because they are utilized as inputs to produce a component of the final product, these items are also known as semi-finished products.
- A tractor used in farming, Machinery purchased in an office
- FINAL GOODS:
- A final good, also known as a consumer good, is a ready-to-sell item that is utilized by the consumer to fulfill current wants or requirements.
- This differs from intermediate products, which are used to make other items.
- "Final goods" refers only to new goods when employed in national income and output estimates.
- Curtain cloth purchased by a household, Ceiling fan purchased by a tailor in his shop, Chalks, dusters purchased by a school
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