NCERT Important Questions Class 10 Social Science Economics Chapter 2
Important NCERT Extra Questions
Chapter 2 Sectors of the Indian Economy
NCERT Book Extra Questions for Session 2022-2023
CBSE Board and UP Board Others state Board
Highlight any three differences between intermediate goods and final goods.
Share
Three differences between the intermediate and final goods are as mentioned below:
Intermediate goods”-
(i) Intermediate goods are used up in producing final goods and service. The value of final goods includes the value of all the intermediate goods that are used in making the final goods.
(ii) Intermediate goods are not included in GDP to avoid the problem of double counting.
(iii) Wood is a intermediate good in the manufacturing of furniture.
Final goods:-
(i)These goods are used for final consumption.
(ii) Final goods are included in GDP.
(iii) Furniture and machines are final goods.