Question

Why are only final goods and services counted give an example

Answer 1

Only final goods are counted in measuring GDP because the goods used in making the final good are included in the final good, so it would be counted twice, otherwise. The value of used furniture that is bought and sold is not counted because the used furniture would have been included in GDP per year.

For example - biscuits are made up of wheat and if we will calculate then it will be added twice. That's the reason we only calculate the value of final goods and services only. Final goods and services are only counted because it's just the product of the the primary goods and services.