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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


Team Careers360 25th Jan, 2024
Answer (1)
Team Careers360 27th Jan, 2024

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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