Goods and services that are used up in the production of other goods and services are called _________ goods and services.
A) intermediate
B) final
C) value added
D) nominal
E) real

Question

Quizplus · Accepted Answer

Intermediate goods and services refer to those used in the production of final goods and services. They are not intended for the end user and are usually sold to manufacturers to use in the production process. Final goods and services, on the other hand, are those that are sold to the end user and are not meant for further production. Choices C, D, and E are not relevant to the concept being described in the question.

Goods and Services That Are Used Up in the Production