Question

Difference between intermediate goods and final goods and services

Answer 1

intermediate are the goods that we use to get a outcome for the final product
finished goods is called as final goods

Answer 2

Intermediate Goods

• These goods remain within the boundary line of production and not ready for use by their final users.
• These goods may be used as raw material for the production of other goods during the accounting year.
• These goods maybe Resold by the forms for Profit during the accounting year.
• Value is yet to be added to these goods.

Final Goods

• These goods are outside the boundary line of production and ready for use by their final users.
• These goods are not used as raw material for the production of other goods during the accounting year.
• These goods are not resold by the firms for profit during the accounting year.
• Value is not to be added to these goods.