The Main Difference Between a Final Consumer and an Intermediate

question 88

Multiple Choice

The main difference between a final consumer and an intermediate consumer is that

• A)the intermediate consumer purchases finished products, whereas the final consumer buys only raw materials.
• B)intermediate consumers buy raw materials and sell finished products to final consumers, who use them.
• C)final consumers make more purchases than the intermediate consumers.
• D)unlike final consumers, intermediate consumers provide monetary benefits to organizations by purchasing their products.
• E)final consumers tend to have more bargaining power than intermediate consumers.

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Definitions:

Perfectly Competitive

A market structure where many firms sell identical products, no barriers to entry exist, and no single buyer or seller can affect the market price.

Market Wage Rate

The prevailing wage determined by the supply and demand for labor in the market, varying across different skill levels, industries, and regions.

Power Cords

Electrical cables specifically designed to connect an appliance or device to the main electricity supply.

Minimum Wage

The lowest legal hourly wage that workers can be paid by employers, a measure aimed at protecting workers from unduly low pay.