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?
Which of the following methods works primarily by inhibiting microbial growth through low moisture?
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.
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?
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?
A fish dies when it is put in an aquarium filled with previously boiled water but cooled to room temperature. This happens because the water in the aquarium is:
Sameer asked a question to teacher that why food items perished during the summer and which of the following is the reason of that ?
