Assertion (A); Wheat is an illustration of an intermediate good.

Reason ( R): Wheat is transformed into another product, usually one that is food or food-related.

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Both (A) and (R) are true and (R) is the correct explanation of (A).

Both (A) and (R) are true but (R) is not the correct explanation of (A).

(A) is correct but (R) is wrong.

(A) is wrong but (R) is correct.

answer is A.

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Detailed Solution

(A): This statement is true, as wheat is an intermediate good. Intermediate goods are the ones that are used to prepare final goods. Wheat is also used as a raw material to prepare food or food-related goods.
(R): Wheat is used as raw materials to produce other goods, mainly food or food-related (for example, biscuits). Thus, this statement is true and also the correct explanation of (A).

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