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Goods that help in further production of goods are called ____.

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Detailed Solution

Goods that help in the further production of goods are called intermediate goods.
Intermediate goods are goods that are used for further processing. They are used to produce the final goods. They are not used in calculating the gross domestic product of a country. If their value, along with final goods and services, is used to calculate the gross domestic product, it will lead to double-counting goods. As bread is an absolute good, its value already consists of expenses, including the cost of wheat flour and all other ingredients, called "intermediate goods." If we count the value of wheat flour and bread separately, it will be double estimated.

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