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Distinguish the final goods or services, intermediate goods or services, and capital goods?
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- How to classify goods as consumption goods and capital goods? Is there any specific way to do so?For each of the following products state if it is a final or intermediate good and explain why? A brick, a cell phone, and a barrel of crude oil.What is investment? A. Expenditure on goods produced but not consumed during the period under consideration B. Expenditure on goods produced and consumed during the period under consideration C. Expenditure on goods by the government. D. Expenditure on wages
- Final goods and services a. Are only foods and services consumed by people b. Are goods and services tht are produced by firms, not individuals c. Include capital and investories d. Do not include inventories but include capitalAn automobile manufacturer uses labor, capital, and a variety of intermediate goods in the production of cars. The car requires $4,000 of steel, $6,000 seats, $10,000 of electronics, $2,000 tires, $10,000 of labor, $5,000 of capital and has a 20% sales markup to consumers. a. What is the total value of intermediate goods? b. What are the total payments to factors of production? c. What is the total value of sales? d. What is the value of GDP from the sale of this car?The part of income which is not consumed is called ________
- What is personal income? What are the sources of personal incomeWhat are the primary factors of production (FOP) and how do they drive economic output and factors on income (FOY)?how to find gross investment in the economy? is it correct if i add Net investment to Capital Consumption? Gross Investment = Net investment + Capital Consumption
