Question

No product is always intermediate of final. Elucidate.

Answer 1

Answer:

It needs to be noted that no good is always final or intermediate because it is the use made of the good which makes it final or intermediate. Let us consider manufacturing of biscuits. Biscuits are final goods but flour, milk, sugar, salt, fuel, etc. used in making biscuits are intermediate goods

Answer 2

Answer:

All goods which are meant either (i) for consumption by consumers or (ii) for investment by firms are called final goods. ... It needs to be noted that no good is always final or intermediate because it is the use made of the good which makes it final or intermediate.