Asked by Patrick Pedersen on May 19, 2024
Verified
Which of the following is an example of a final good or service?
A) Bricks purchased by a company for constructing houses
B) Wheat purchased by a bakery
C) Steel purchased by a company for manufacturing cars
D) A cup of coffee bought at a restaurant
E) A used car bought by a person
Final Good
A product or service that is consumed by the end user and does not require further processing or manufacturing.
Restaurant
A business establishment where meals or refreshments may be purchased and consumed by patrons.
- Identify and distinguish between final goods and intermediate goods.
Verified Answer
SM
Sohaib MasudMay 25, 2024
Final Answer :
D
Explanation :
A cup of coffee bought at a restaurant is a final good or service because it is purchased for direct consumption by the consumer. The other options (bricks, wheat, steel, and a used car) are intermediate goods, which are purchased for the purpose of further production or resale.
Learning Objectives
- Identify and distinguish between final goods and intermediate goods.