Which of the following is TRUE with respect to final goods? (a) Final goods are the goods which reach the consumer. (b) Market value of final goods is used to calculate GDP. (A), Only(a) (B) Only(6) (C) Both (a)and(b) (D) Neither (a) and(6)
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b market value of final goods is used to calculate
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Which of the following is TRUE with respect to final goods?
(a) Final goods are the goods which reach the consumer.
Explanation:
1. The definition of final goods is the final product which is manufactured in the company and whose all the processes after manufacturing are done and it is now absolutely ready for the consumption or use, are called as final goods.
2. Final goods or commodities are transported from manufacturing end to the market, distributors, retailers and consumers for direct consumption.
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