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Define an intermediate good....

Define an intermediate good.

Text Solution

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Intermediate goods refer to those goods which are used either for resale or for further production.
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Define intermediate goods and final goods . Can milk be an intermediate good ? Give reasons for your answer. Hint for 2^(nd) Part : Milk purchased by a restaurant is intermediate good because it is purchased for reselling.

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Knowledge Check

  • Which of the following is an example of an intermediate goods ?

    A
    Car sold by a dealer of second hand cars
    B
    Steel and cement used to construct a flyover
    C
    Fertilizers purchased by a farmer
    D
    All the these

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    Classify the following as intermediate goods or final goods : Books purchased by a book seller.

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    Classify the following as intermediate goods or final goods : Computers installed in an office.

    Distinguish between final goods and intermediate goods. Give an example of each.

    Classify the following as intermediate goods or final goods : Seeds purchased by a farmer.

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