FINAL GOODS V/S INTERMEDIATE GOODS

Final Goods are those goods which are either used for _________ or for __________.

• Consumption, Investment

• Resale, Investment

• Resale, Further production

• Consumption, Resale

Gifts purchased by a family for Navratri Kanya Pujan are __________. (Final Goods/Intermediate Goods)

• Final Goods

• Intermediate Goods

Fill In the blank:

In the given picture, sewing Machine is an example of _________.

(Final Good/ Intermediate good)

• Final Good

• Intermediate good

Goods that are outside the production boundary are called _____________.

• Intermediate goods

• Final goods.

Identify the statement, which is CORRECT about intermediate goods.

• Intermediate goods are used by the producers.

• Intermediate goods do no undergo any value addition.

• Intermediate goods are included in GDP.

• Intermediate goods are outside the production boundary.

In the classification of a good as an intermediate good or final goods, only its _________ is taken into consideration. (Initial use/End use)

• Initial use

• End use

Identify which of the following is NOT an example of Final Good.

• Car purchased by a Taxi Driver for taxi use

• Payment to an electrician by a school

• Computers purchased by an IT services firm.

• Gas Stove Purchased by a restaurant.