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Q.

Goods that are used up during the process of production are known as ____ goods.


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Detailed Solution

Intermediate goods are the goods that are used in the production process for the production of final goods. For example, machinery used in manufacturing mobile phones is an intermediate good. A mobile phone, in this case, is a final good. The values of intermediate goods are not counted in the GDP as they are already included in the final goods.
 
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