Which of the following is the best example of a final good or service?
A) Crude oil in an oil well
B) Gasoline purchased by Exxon for its gas stations
C) A song you downloaded for a fee from Amazon.com
D) Retail floor space at a suburban shopping mall

Question

Quizplus · Accepted Answer

A final good or service is a product that is sold to the end consumer or user. In this case, the song downloaded from Amazon.com is a final good that is purchased by a consumer for personal enjoyment or use. The other choices are not final goods or services. Crude oil is a raw material that needs to be refined and processed before it can be used in a final product. Gasoline purchased by Exxon is a product that will be sold to consumers, but it is not a final good because it is being used by Exxon as an input in the production of another product. Retail floor space is not a good or service at all; it is a physical resource that is used in the production process.

Which of the Following Is the Best Example of a Final