The correct answer is D: tank of gasoline bought by you; jet fuel bought by SouthWest Airlines. A tank of gasoline bought by you is a final good and jet fuel bought by SouthWest Airlines is an intermediate good.
Contrary to intermediate products, which are used to create other things, a final good or consumer good is a finished product that is ready for sale and is used by the consumer to satisfy current wants or requirements. A microwave or a bicycle are examples of final goods, whereas the components used to make them are known as intermediate goods.
A consumer good, also known as a final good or finished product, is made from an intermediate item. Since salt is used by producers to create other food products as well as directly consumed by customers, intermediate goods like salt can also be finished goods.
A___ is a final good and ___ is a intermediate good.
A. new car bought by a student; a used SUV bought by a dealer
B. new textbook a used textbook
C. new iphone bought by a student; a new computer bought by Wal-Mart
D. tank of gasoline bought by you; jet fuel bought by SouthWest Airlines
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