Explain the difference between intermediate goods and final goods and give an example of each.
What will be an ideal response?
Final goods are goods that are ready to be consumed. Intermediate goods are those sold from producer to producer. They become an input into the production of a final good. An example of a final good is a new car purchased by a consumer at a car dealership. An example of an intermediate good is the tires that the car manufacturer purchased from the tire manufacturer and placed on the car during assembly.
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In developing countries, it can be expensive and time-consuming for the poor to legalize their property ownership. Without legal title, the property cannot be used as ________ to borrow funds
A) collateral B) points C) interest D) restrictive covenants
A union's major source of power is its
a. high-profile leadership. b. ability to increase productivity. c. ability to threaten a strike. d. ability to deny employers the opportunity to bargain over wages.