Goods That Are Used Up Entirely in the Production of Final

question 98

Multiple Choice

Goods that are used up entirely in the production of final goods are known as

• A)durable goods.
• B)value added goods.
• C)intermediate goods.
• D)consumer goods.

---

Definitions:

Economic Vitality

The health and dynamism of an economy, often assessed by metrics such as growth, employment, and innovation.

Dominant Firm Model

An economic model that describes a market structure in which a single large firm has a significant market share and can influence the market price.

Fringe Firms

Smaller companies in a market that operate alongside the largest or mainstream businesses, often filling niches or offering alternative products.

Price Takers

Firms or individuals in a market who accept the prevailing prices and whose actions have no effect on said prices due to their small market share.