Goods and services that are consumed by the ultimate user are called ________ goods and services.
A) intermediate
B) final
C) value added
D) nominal
E) real

Question

Quizplus · Accepted Answer

Final goods and services are those that are directly consumed by the end users. Intermediate goods, on the other hand, are used in the production of other goods and services, and are not meant for final consumption. Value added refers to the increase in the value of a product that occurs at each stage of production, while nominal and real refer to measures of prices or values adjusted for inflation.

Goods and Services That Are Consumed by the Ultimate User