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Q: In economic terms what do we mean by 'intermediate goods'?
  • A. Price of goods without GST
  • B. Goods in transit before reaching the consumers
  • C. Goods sold between industries for the resale or production of other goods
  • D. Fixed assets used manufacturers
Correct Answer: Option C - Intermediate goods can be used for producing final goods or consumer goods or it can act as input in other goods and constitute the final goods as an ingredient. These goods are also called semi furnished good.
C. Intermediate goods can be used for producing final goods or consumer goods or it can act as input in other goods and constitute the final goods as an ingredient. These goods are also called semi furnished good.

Explanations:

Intermediate goods can be used for producing final goods or consumer goods or it can act as input in other goods and constitute the final goods as an ingredient. These goods are also called semi furnished good.