Which of the following would most likely be defined as a final good?
A) iron ore
B) wheat
C) a computer tablet
D) lumber

Question

Quizplus · Accepted Answer

A final good is a product that is purchased by the end-user and is not used in the production of other goods. Iron ore, wheat, and lumber are all raw materials that are used in the production of other goods. A computer tablet, on the other hand, is a finished product that is purchased by the end-user for personal use, making it a final good.

Which of the Following Would Most Likely Be Defined as a Final