Which of the following is a final good?
A) seed used for corn
B) wheat used for bread
C) electricity used for producing automobiles
D) a lawn mower purchased by a household

Question

Quizplus · Accepted Answer

A final good is a good that is purchased by the end consumer for consumption and not for further production. A lawn mower purchased by a household is a final good for their use, while a seed used for corn is an intermediate good as it is used for further production. Wheat used for bread is also an intermediate good as it is used for further processing (baking). Electricity used for producing automobiles is also an intermediate good as it is used in the production process.

Which of the Following Is a Final Good