Answer:
Correct Answer:
<u>Final Good or Service:</u>
1. A haircut bought by a student Item
(Component of investment)
<u>Intermediate Good or Service.</u>
2. Mufflers bought by Ford Motor Co Item
( Component of consumption expenditure )
3. New concrete mixers bought by Chicago Concrete Inc.
(government expenditure on goods and services)
Explanation:
<em>In final good and service</em>, the end benefits to the consumer is paramount. Because, there is no middle point for the goods or services rendered. On the other-hand,<em> </em><em><u>when the goods or service purchased is for the actualization of a given end product,</u></em><em> then, the purchased goods or service is an intermediate goods or service.</em>