Answered: Which of the following is an example of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Which of the following is an example of an intermediate good?

Group of answer choices

The chocolate you buy to make yourself some cookies.

The dough you buy to fix yourself a pizza for dinner.

None of the above

The pizza sauce you purchase to make pizzas to sell for a fund-raiser for an organization you belong to.

Expert Solution

Introduction:

Intermediate goods are products that are used in the manufacturing process to create other goods that are then sold to consumers. The intermediate goods are sold from industry to industry for resale or to be used in the production of other products. Intermediate goods are items that are used by businesses to produce goods or services. These items are also known as producer goods. In other words, intermediate goods are used in the manufacture of finished goods or consumer goods.

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