Which of the following correctly describes a final good?
i.A final good is bought by its final consumer.
ii.A final good can be used by a firm as a component of another good or service.
iii.Investment goods cannot be a final good.
A)ii and iii
B)i only
C)i and ii
D)i and iii
E)i, ii and iii

Question

Which of the following correctly describes a final good?
i.A final good is bought by its final consumer.
ii.A final good can be used by a firm as a component of another good or service. 
iii.Investment goods cannot be a final good.
A)ii and iii
B)i only
C)i and ii
D)i and iii
E)i, ii and iii

Quizplus · Accepted Answer

A final good is one that is purchased by its final consumer and not used as a component in another product. Investment goods can be final goods if they are purchased for final use.

Which of the Following Correctly Describes a Final Good