Question

What is the difference between Final goods and Intermediate goods​

Answer 1

Final goods refer to those goods which are used either for consumption or for investment. Intermediate goods refer to those goods which are used either for resale or for further production in the same year. ... They have a derived demand as their demand depends on the demand for final goods.

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.

Answer 2

Answer:

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