Final and Intermediate Goods (Grade 11 NSC Matric Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What distinguishes economic goods from free goods?
What distinguishes economic goods from free goods?
Economic goods are scarce & need effort
Which of the following is an example of a free good?
Which of the following is an example of a free good?
Air
What are intermediate goods used for?
What are intermediate goods used for?
To create other products
When a biscuit factory buys sugar for manufacturing, how is the sugar classified?
When a biscuit factory buys sugar for manufacturing, how is the sugar classified?
As an intermediate good
Which is an example of a final good?
Which is an example of a final good?
A car you buy for personal transport
What is household spending on food and clothing called?
What is household spending on food and clothing called?
Consumption (C)
In the CIGX-Z acronym, what does the letter I represent?
In the CIGX-Z acronym, what does the letter I represent?
Investment spending by businesses
What do households sell in factor markets?
What do households sell in factor markets?
Labour, land, and other resources
Where do firms sell their finished goods and services?
Where do firms sell their finished goods and services?
Product markets
What happens after households receive income from firms in the circular flow?
What happens after households receive income from firms in the circular flow?
Households buy goods in product markets