Question

what is the difference between intermediate goods and final goods explain by taking the example of a cake

Answer 1

Answer:

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.

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Answer 2

Answer:

Intermediate goods refer to those goods which are used either for resale or for further production in the same year. Final goods refer to those goods which used either for consumption or for investment. They are not ready for use in the sense some value has to be added to the intermediate goods.