Question : Steel sheets used in the production of furnitures is an example of
Option 1: An intermediate good
Option 2: A final good
Option 3: An investment good
Option 4: Aconsumption good
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Correct Answer: An intermediate good
Solution : The correct option is An intermediate good.
Furniture made from steel sheets is regarded as an example of an intermediate good. Products that are used as raw materials to produce other commodities or services are referred to as intermediate goods. Instead of being sold directly to customers, firms employ them to produce finished goods that are then offered for sale to customers. In this instance, the raw materials utilized to create the furniture are steel sheets.
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