Which of the Following Is an Example of an Intermediate

question 31

Multiple Choice

Which of the following is an example of an intermediate good?

• A) the tortillas you buy to make yourself a burrito for lunch
• B) the blueberries you buy to bake yourself some muffins
• C) the chocolate chips you purchase to make cookies to sell at a bake sale for your kids' school
• D) the lumber you buy to build a house for your dog

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Definitions:

Demand For Baseballs

The total quantity of baseballs that consumers are willing and able to purchase at various prices during a given time period.

Substitutes

Goods or services that can be used in place of each other, fulfilling the same needs or desires.

Complements

Goods or services that are used together, where the use or consumption of one enhances the use or consumption of the other.

Law Of Supply

The Law of Supply states that, all else being equal, an increase in price results in an increase in the quantity supplied.