An Example of an Intermediate Good Is

question 42

Multiple Choice

An example of an intermediate good is:

• A) wages paid to an employee.
• B) steel purchased by aircraft manufacturers.
• C) vegetables purchased for your dinner.
• D) electric bills for your house.

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Definitions:

Just Compensation

A principle requiring that when private property is taken for public use, the owner must be fairly compensated.

Trade Agreements

Contracts between two or more nations that outline how they will work together to ensure mutual benefit in trade.

Dispute Resolution

The process of resolving disputes or disagreements between parties through legal procedures or mutual agreements.

WTO

The World Trade Organization, an international body that deals with the rules of trade between nations to ensure that trade flows as smoothly, predictably, and freely as possible.