final and intermediate goods

_______ refers to those goods which are used for either consumption or investment.

________ refers to those goods which are used either for resale or for further production

which of the following is not included in national income nor in domestic goods

• intermediate goods

• final goods

• both final goods and intermediate goods

• none of the above

"they are still within the production boundary" -

• final goods

• intermediate goods

• capital goods

• none of the above

state T/F

intermediate goods have derived demand while final goods have direct demand

State T/F

a good can be intermediary good in one case and final good in another.

state T/F

in intermediate goods, no value has to be added.

Butter is-

• final good

• intermediate good

• can be both final and intermediate

• none of the above

state T/F

"final goods include only those goods which are consumed by the household"

which of the following is an intermediate goods

• purchase of milk by dairy shop

• machine purchased by a firm

• wheat used by a flour mill

• wheat used by household