Which of the following is classified as a final good or service?
i. tires bought by GM to put on new Tahoes
ii. mustard bought by Subway to put on its sub sandwiches
iii. your purchase of online access to the Wall Street Journal
A)i, ii and iii
B)iii only
C)ii only
D)i and ii
E)ii and iii

Question

Which of the following is classified as a final good or service?
i. tires bought by GM to put on new Tahoes
ii. mustard bought by Subway to put on its sub sandwiches 
iii. your purchase of online access to the Wall Street Journal
A)i, ii and iii
B)iii only
C)ii only
D)i and ii
E)ii and iii

Quizplus · Accepted Answer

A final good or service is one that is consumed by the end user and does not require any further processing. In this case, the online access to the Wall Street Journal is a final service consumed by the end user. The tires and mustard are intermediate goods used in the production of other goods.

Which of the Following Is Classified as a Final Good