Question

Distinguish between intermediate products and final products.

Answer 1

SOLUTION :  

INTERMEDIATE PRODUCTS :

Intermediate product are the raw materials used in the production of finished goods and services .These Goods are either used for resale.  

For e.g : Cotton bought by a textile mill for making cloth is an intermediate product.

In making cake intermediate products used are cake flour, sugar, cocoa powder, butter.  

FINAL PRODUCTS :

Goods which are ready for consumption or capital formation by the final users. These Goods are neither used for resale.  

For e.g : cotton bought by consumer for their personal use is a final good.

Oil , sugar ,salt bought by consumer for final consumption.

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Answer 2

Answer:

˙❥˙Final goods are referred to as those goods which do not require further processing. These goods are also known as consumer goods and are produced for the purpose of direct consumption by the end consumer. Intermediate goods are referred to as those goods that are used by businesses in producing goods or services.✧*。

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