Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services:Banking services bought by GoogleSecurity system bought by the New York Stock ExchangeCoffee beans bought by StarbucksNew coffee grinders bought by StarbucksStarbucks grande mocha frappuccino bought by a studentNew battleship bought by the U.S. Navy

Answered: Classify each of the following items as…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Classify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services:

Banking services bought by Google
Security system bought by the New York Stock Exchange
Coffee beans bought by Starbucks
New coffee grinders bought by Starbucks
Starbucks grande mocha frappuccino bought by a student
New battleship bought by the U.S. Navy

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Final goods are produced products that are intended for immediate customer consumption. The items that are utilized to create final goods are referred to as intermediate goods.

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