Intermediate good

Intermediate good

Intermediate goods or producer goods are goods used as inputs in the production of other goods, such as partly finished goods or raw materials. A firm may make then use intermediate goods, or make then sell, or buy then use them. In the production process, intermediate goods either become part of the final product, or are changed beyond recognition in the process.

Intermediate goods are not counted in a country's GDP, as that would mean double counting, as the final product only should be counted.

The use of the term "intermediate goods" can be slightly misleading, since in advanced economies about half of the value of intermediate inputs consist of services.

Examples

* Steel - a raw material used in the production of many other goods, such as bicycles.
* Car engines - Some firms make and use their own, others buy them from other producers as an intermediate good, then use them in their own car.
* paint, plywood, pipe & tube, ancillary parts, etc.

ee also

*Intermediate consumption


Wikimedia Foundation. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • Intermediate consumption — is an economic concept used in national accounts, such as the United Nations System of National Accounts (UNSNA) and the US National Income and Product Accounts (NIPA). Conceptually, the aggregate intermediate consumption is equal to the amount… …   Wikipedia

  • Good (economics) — Types of goods in economics. In economics, a good is something that is intended to satisfy some wants or needs of a consumer and thus has economic utility. It is normally used in the plural form goods to denote tangible commodities such as… …   Wikipedia

  • intermediate — UK US /ˌɪntəˈmiːdiət/ adjective ► intermediate activities or decisions happen during a process, rather than at the beginning or end of it: »The five month program has been broken down into a series of separate, intermediate goals. »Fed officials… …   Financial and business terms

  • Good Samaritan Hospital (Suffern) — Good Samaritan Hospital is a non profit, 370 bed hospital providing services to residents of Rockland County and southern Orange County in New York and northern Bergen County, New Jersey. The hospital also serves these communities as an Area… …   Wikipedia

  • Good distribution practice — or GDP deals with the guidelines for the proper distribution of medicinal products for human use. GDP is a quality warranty system, which includes requirements for purchase, receiving, storage and export of drugs, intended for human… …   Wikipedia

  • Good Counsel GAA — Infobox GAA club club gaa =Good Counsel Irish =Muire na Dea Chomhairle crest = founded=1954 province=Leinster county =Dublin Web ={http://www.goodcounsel.ie/index.htm Official Website] colours = grounds = f2= f3= pattern la= borderonblack pattern …   Wikipedia

  • Inferior good — Good Y is a normal good since the amount purchased increases from Y1 to Y2 as the budget constraint shifts from BC1 to the higher income BC2. Good X is an inferior good since the amount bought decreases from X1 to X2 as income increases. In… …   Wikipedia

  • Intermediate State —    Death is a separation of the soul and body; the body becoming lifeless and eventually decomposing into dust, the soul continuing to live as truly as ever. What becomes of the living soul when thus separated from the body by death?     Our Lord …   American Church Dictionary and Cyclopedia

  • Ordinary good — An ordinary good is a microeconomic concept used in consumer theory. It is defined as a good which creates increased demand when the price for the good drops or conversely decreased demand if the price for the good increases, ceteris paribus. It… …   Wikipedia

  • Neutral good — This article is about an economic term. For Dungeons Dragons related term, see Alignment (Dungeons Dragons)#Neutral good. In economics, neutral goods are goods that have a demand that is not dependent to the income. Examples of neutral goods… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”