Goods that are used up entirely in the production of final goods are known as
A) durable goods.
B) value added goods.
C) intermediate goods.
D) capital goods.

Question

Quizplus · Accepted Answer

Intermediate goods are goods that are used up entirely in the production of final goods. They are not sold to consumers and are used only for production purposes. Durable goods are goods that do not wear out quickly and last for a long time, while capital goods are goods used in the production of other goods and services. Value added goods is not a term used in economics.

Goods That Are Used Up Entirely in the Production of Final