Asked by Shanelle States on Jun 17, 2024
Verified
Which of the following is an intermediate product?
A) A road
B) Steel
C) Bread
D) A TV set
E) An automobile
Intermediate Product
Goods that are used as inputs in the production of other goods and services, not destined for the final consumer.
- Differentiate between final goods and intermediate goods and their roles in GDP calculation.
Verified Answer
RB
Reckaldo BurrellJun 22, 2024
Final Answer :
B
Explanation :
Intermediate products are products that are used as inputs in the production process of another product. Steel is an intermediate product used in the production of automobiles, TV sets, and roads. Bread is a final product, and a road, TV set, and automobile are capital goods.
Learning Objectives
- Differentiate between final goods and intermediate goods and their roles in GDP calculation.