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Non-Competitive Markets
Question
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Distinguish between intermediate products and final products.

Answer

Solution not provided.

Tips: -

Hint. Goods which are used up during production process of production of other goods are called intermediate goods whereas goods which do not undergo any further transformation in production are called final goods.

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Some More Questions From Non-Competitive Markets Chapter

National Income (NI)

Final Goods and Intermediate Goods 

Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school
(ii) Chalks, dusters purchased by a school.

Consumption Goods and Capital Goods

Flow and Stock Concepts

Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth. 

Gross Investment and Net Investment

Domestic (Economic) Territory

National Income at Current and Constant Prices (Nominal and Real NI)

Consumption of Fixed Capital (Depreciation)