Goods which are purchased by a production unit from other production units and meant for resale or for using up completely during the same year are called intermediate goods for example : raw material. Goods which are purchased for consumption and investment are called final goods for example : Purchase of machinery for installation in factory.
Explain the basis of classifying goods into intermediate and final goods. Give suitable examples.
Answers
Raju kumar
Goods which are purchased by a production unit from other production units and meant for resale or for using up completely during the same year are called intermediate goods for example : raw material. Goods which are purchased for consumption and investment are called final goods for example : Purchase of machinery for installation in factory.