Distinguish between final goods and intermediate goods. Give an example of each.

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Monjur Alahi

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2025-01-04 04:42

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Salim Ahmed Kawsar · Accepted Answer · 2023-02-05T15:29:48+06:00

Intermediate goods and final goods are distinguished on the basis of following points :

Basis of Difference	Final Goods	Intermediate Goods
Use	Final goods are those products that are ready for use by the final consumers.	Intermediate goods are those products which are not ready for final use and are used only as raw materials for further production.
Further Processing	Such goods do not require any further processing.	These goods require further processing and go through various stages of production.
Resale	These goods are not meant for resale	Such goods are resold for further production.
Example	For example, cotton purchased by a consumer for personal consumption is a final good.	For example, cotton purchased by a textile industry for making cloth is an intermediate good.