write a short note on the concept of final good
Answers
A consumer good or final good is any commodity that is produced or consumed by the consumer to satisfy current wants or needs. Consumer goods are ultimately consumed, rather than used in the production of another good. ... For example, textiles or transistors can be used to make some further goods.
Final Goods - The goods that are ready to use by the consuming party or a buying party.
EXPLANATION-
In economics, the final goods are referred to as the good that can be used by customers or consumers after purchasing.
Final goods are the result of all the operations are made on to raw or semi-finished good.
Final goods possess the utility of satisfying needs and wants for the buyer.
Final goods are available in the market that can be used as per the nature of the need and nature of good.
For example - Products like Packed food, clothes or car are the final for good that can be used after purchase is made.
Conclusion-
The final goods are the result of the manufacturing firm. That is offered to the customer or consumers as per demand is made for consumption.
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