Question : Which of the following statement are true as per the mechnaism given in the picture. Cotton and thread are final goods whereas cloth is an intermediate good. As long as, goods are under production boundry, they are intermediate goods. Goods outside production boundry are co ...

#Intermediate

3 Views

Question : Which of the following statement are true as per the mechnaism given in the picture.

Cotton and thread are final goods whereas cloth is an intermediate good.

As long as, goods are under production boundry, they are intermediate goods.

Goods outside production boundry are consumer goods.

Final goods and consumer goods are different from eachother.

Option 1: 1,2&3
Option 2: 3&4
Option 3: 1&4
Option 4: 2&3

Team Careers360 6th Jan, 2024

Answer

Answer Later

Report

Answer (1)

Team Careers360 17th Jan, 2024

Correct Answer: 2&3

Solution :

The boundary of the production process is an imaginary line. Any products or services that cross this boundary are regarded as final items. Production-bound items are regarded as intermediate goods that require value addition.

All consumer goods are final goods.

Hence, Option D is correct.

Like Share

Related Questions

Question : The products that directly satisfy human demands are referred to as:

5 Views

Question : Which of the following are true?

Domestic territory is also known as economy territory.
Printer purchased by lawyer is an intermediate good.

4 Views

Question : The value added of a firm is calculated as___________.

7 Views

Question : Which of the following are true?

Purchase of machines by a producer is an intermediate good.
Unexpected obsolescence is a component of depreciation.

17 Views

Question : Name an alkylbenzene widely used as a chemical intermediate in the production of phenol.

8 Views

Applications for Admissions are open.

Amity University, Noida Law A...

Apply

700+ Campus placements at top national and global law firms, corporates, and judiciaries

UPES Integrated LLB Admission...

Apply

Ranked #28 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS University Rankings | 16.6 LPA Highest CTC

Great Lakes PGPM & PGDM 2025

Apply

Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Extended Application Deadline: 10th Jan 2024

ISBR Business School PGDM Adm...

Apply

250+ Companies | Highest CTC 16 LPA | Average CTC 8 LPA | Ranked as Platinum Institute by AICTE for 6 years in a row | Awarded Best Business School...

Chandigarh University Admissi...

Apply

Ranked #1 Among all Private Indian Universities in QS Asia Rankings 2025 | Scholarships worth 210 CR

ICFAI-LAW School BA-LLB / BBA...

Apply

Ranked 1 st among Top Law Schools of super Excellence in India - GHRDC | NAAC A+ Accredited | #36 by NIRF

View All Application Forms

Trending Articles/News

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students

30,000+ Colleges

500+ Exams

1500+ E-books