Question

Highlight any three differences between intermediate goods and final goods? or highlight any three differences between intermediate goods and final goods?

Answer 1

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.

Explanation:

Answer 2

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.