What is the difference between final goods and intermediate goods?
A) Final goods require further processing before consumption.
B) Intermediate goods are sold directly to the consumer.
C) Intermediate goods are inputs for other goods.
D) Final goods require further processing before consumption, while intermediate goods are inputs for other goods.

Question

Quizplus · Accepted Answer

Intermediate goods are goods that are used as inputs in the production of other goods and services. Final goods or finished goods are goods that are used for final consumption by the end-user. Therefore, the main difference between final goods and intermediate goods is that intermediate goods are not meant for final consumption, but rather for further processing or use in the production of other goods.

What Is the Difference Between Final Goods and Intermediate Goods