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Brief notes on Intermediate goods and final goods

Definition

❶Non-factor inputs include all inputs other than factor inputs. Many consumers buy sugar to use as a sweetener for coffee or to incorporate into their home baking activities.

Use intermediate goods in a sentence

Use 'intermediate good' in a Sentence
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Definition of intermediate good: Material or item that is a final-product of a process, but is also used as an input in the production process of some other good. For example, sugar is consumed directly as well as in the manufacture.

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An intermediate good is a good or service used in the eventual production of a final good or finished product.

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Intermediate goods or producer goods or semi-finished products are goods, such as partly finished goods, used as inputs in the production of other goods including final goods. A firm may make and then use intermediate goods, or make and then sell, or buy then use them. ADVERTISEMENTS: Final Goods and Intermediate Goods! Final Goods: Final goods refer to those goods which are used either for consumption or for investment. Final Goods include: ADVERTISEMENTS: (i) Goods purchased by consumer households as they are meant for final consumption (like milk purchased by households). (ii) Goods .

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An Intermediate Good is a good or service purchased by a manufacturer to be used as an input in another product. Learn more with our Free Economic Lessons! Intermediate goods are also known as semi finished products; these goods are those which are used as input in the production of other goods or for making product.