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Q.

Choose given statement True/False:

Intermediate goods can be termed as semi-finished goods

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a

True

b

False

answer is B.

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Detailed Solution

The above statement is true.
Intermediate goods are semi-finished and are usually sold between businesses, from producer to manufacturer. At the same time, finished goods can be sold to consumers or businesses for consumption, not for further processing. Computer manufacturers purchase several goods like motherboards, microchips, and hard drives (intermediate goods) to assemble computers (final goods). The value of intermediate goods is not included in the country's national income because their value is already included in finished goods.

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