Which of the following goods is final goods?(i) Cloth used for making a sofa-set by the carpenter(ii) Purchase of rice by a grocery shop(iii) Machine purchased by a dealer.(iv) Clothes used by the householdsChoose the options belowOnly (i)Only (iv)(i), (ii) and (iii)(ii), (iii) and (iv)

Which of the following goods are usually intermediate goods and which are usually final goods?     a. Running shoes:      b. Cotton fibers:      c. Watches:      d. Textbooks:      e. Coal:      f. Sunscreen lotion:      g. Lumber:

Which of the following would be considered merchandise inventory?Multiple choice question.Raw materialsPurchased finished goodsWork in processCost of goods sold

Which of the following statements are true of final goods?Multiple select question.They are goods directly consumed by individuals or businessesThey are goods used only in the production of other productsThey are excluded from GDPThey are goods counted as part of GDP

Which of the following is merchandise inventory?Multiple choice question.Goods held for sale in the normal course of businessEquipment used to manufacture products which will be sold laterRaw materials and work in processOffice supplies that a company plans to use in the next few months

Items taken from real estate may be treated as goods if: Blank______.Multiple choice question.the owner sells the buyer the right to come and remove the itemsthe owner sells the buyer the right to use the items without removing them out of the groundthe owner takes the items out of the ground and then sells them to the buyerthe owner sells the items to the buyer and then helps the buyer move the items out of the ground