Goods which are produced for consumption rather than as an intermediate product used in the process of production are referred to as:

Related MCQs

• A trade of goods and services in the exchange for other goods or services rather than for money is known as:
• The excess of price a person is to pay rather than forego the consumption of the commodity is called -
• Consumer goods that yield services or utility over time rather than being used up instantly are termed as
• Indirect taxies levied upon goods produced for home consumption are called:
• The measure of the total flow of goods and services produced by the economy over a specified time period, normally a year or a quarter is referred to as
• The value of the output of all goods and services produced within a nation's borders, normally given as a total for the year. It thus includes the production of foreign owned firms within the country, but excludes the income from domestically owned firms located abroad, is called:
• The goods and services produced by one country that are sold in exchange for the second country’s own goods and services or for foreign exchange are called
• Scarce inputs that can yield utility through production or provision of goods and services are referred to as:
• Consumption function expresses the relationship between consumption and -
• Goods which are meant either for consumption or for investment are called -