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Explain with an example, the basis …

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Explain with an example, the basis of classifying goods into final good and intermediate goods

Posted by Nehal Jeloka 5 years, 10 months ago

CBSE > Class 12 > Economics

3 answers

Geetam Kabra 5 years, 10 months ago

You can classify the goods as final or intermediate on the basis of its end use. The same good may be final or intermediate depending upon its end use, for example-wheat grown by a farmer, if sold to a bakery shop, will be treated as an intermediate good but if it is sold to customers for their consumption it will be treated as final good

Sachin Yadav 5 years, 10 months ago

What matters is the end use of that good the same good may be final or intermediate good for example car purchased by a household is final good but car purchased by a retailer is intermediate good. You can classify it on the basis of the end use of the goods

Hrinshi Bhatodra 5 years, 10 months ago

Primary good - cotton -> thread (intermediate good) -> cloth -> ready made (final good).

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