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
- Which of the following items has a high fibre content?
Read the following two statements carefully and choose the correct option:
Statement 1: Poor nutrition among adolescents can result in stunted growth and deficiency diseases.
Statement 2: Proper diet plays a critical role in the healthy development of adolescents.
Soybean products contain ___________, which are similar to one of the human hormones.
Which of the following methods works primarily by inhibiting microbial growth through low moisture?
______ is the art of rearing silk worms under artificial or domesticated conditions and extraction of the silk fibre from their cocoon.
Important Questions from Biology in Everyday life
- What leads to rancidity in food products?
- Which mineral is essential for healthy red blood cells and a deficiency might cause anemia?
- Which of the following is an effective birth control technique?
- Vaccination involves :
- Which of the following statements is NOT correct about antibiotics?
