Which of the following is necessarily a final good?
An XL size shirt
The correct answer is An XL size shirt.
The same flour bought by a bakery is an intermediate good (input for producing bread for sale). This user-based distinction is important in calculating Gross Domestic Product (GDP) to avoid double-counting the value of goods. The concept of final goods helps ensure that national income accounts measure the value of goods and services produced for end consumption, not the value of inputs used at various stages of production.
Similar Questions
______ is the art of rearing silk worms under artificial or domesticated conditions and extraction of the silk fibre from their cocoon.
- Which of the following items has a high fibre content?
Important Questions from Biology in Everyday life
Which of the following occurs when an organism absorbs the chemicals at a faster rate then the metabolic capacity of their body?
Which of the following is a primary producer in a food chain?
Aphim, Morphin, Heroin, Methodine are the examples of:
Due to which change in environment that Rekha's mother told Rekha not to sleep below the tree ?
Which of the following plays an important role in balancing oxygen and carbon dioxide in the atmosphere?
