Raw materials and equipment used in the production of other goods and services are called Intermediate goods.
Intermediate goods are referred to as those goods which can be utilized by businesses in producing items or services. Final goods are items which do not require further processing. These goods are also called customer goods and are produced for the cause of direct intake with the aid of the end patron.
Raw materials are the input goods or stock that a enterprise wishes to fabricate its merchandise. Examples of raw materials encompass metallic, oil, grain, minerals.
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