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Basic Concepts & the Circular Flow · Question 12 of 72

Question 12

EasyOriginal question

Flour bought by a family to cook its meals is

Options for question 12

Show the answer and explanation
CorrectNot quiteAnswer C

Correct answer: C

Explanation

  1. A household is a final user: cooking at home is consumption, not production for sale.

  2. The same flour can be final or intermediate; the buyer's use decides.

Worth noting

The good is the same as the bakery's flour; only the use is different.

Concept
The use decides
Typical time
40 s
Your time
—
The rule this testsFinal and intermediate goods
Practise this chapter →

Ten questions from Basic Concepts & the Circular Flow, at your own pace.

Practise this chapter →

Ten questions from Basic Concepts & the Circular Flow, at your own pace.