Examlex

Solved

What Is Meant by a Final Good or Service as Opposed

question 118

Essay

What is meant by a final good or service as opposed to an intermediate good or service? Why are only final goods and services included in the calculation of GDP?


Definitions:

Privately Held Corporation

A company whose ownership is private, meaning its stock is not traded on public stock exchanges and is held by a limited group of shareholders.

New York Stock Exchange

A marketplace where securities, including stocks and bonds, are bought and sold.

Closely Held

A business owned by a limited number of shareholders with no public market for its shares.

No-Par Stock

Shares issued without a par value, which means their face value is not fixed in the stock certificate, enabling more flexibility in setting the share prices.

Related Questions