Illustrate with an example that tea can be both final and intermediate

1.	Illustrate with an example that tea can be both final and intermediate goods.
Answer» Milk purchased by tea stall – Intermediate good as milk will be used as an input to make the final product i.e. tea. Since the milk purchased by a tea stall involves further processing before it is sold as tea or coffee, it is considered as an intermediate good. Final goods are those goods which are purchased for final consumption. They are not meant for resale and is not processed further.

Illustrate with an example that tea can be both final and intermediate goods.

Answer»

Milk purchased by tea stall – Intermediate good as milk will be used as an input to make the final product i.e. tea.

Since the milk purchased by a tea stall involves further processing before it is sold as tea or coffee, it is considered as an intermediate good. Final goods are those goods which are purchased for final consumption. They are not meant for resale and is not processed further.

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Illustrate with an example that tea can be both final and intermediate goods.

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