Question

Identify the final good from the following.

• A. Idli made by a cook in a family
• B. Wheat produced and sold by the farmer to the floor mill
• C. Shirt buttons sold by a shopkeeper to a tailor
• D. Paper sold by a factory to a book binder

Hint:

Final goods are those that are consumed by the end-user, while intermediate goods are used in the production of other goods.

Answer 1

The Correct Option is A

A final good is a product that is purchased by the final consumer, not used for further production. Let’s evaluate the options: Option 1: Idli made by a cook in a family
This is a final good. Idli, once prepared and consumed by the family, is considered a final good because it is directly consumed by the household, not used for further production. Option 2: Wheat produced and sold by the farmer to the floor mill
This is not a final good. The wheat is a raw material and is sold to the floor mill for further processing, so it is an intermediate good. Option 3: Shirt buttons sold by a shopkeeper to a tailor
This is also an intermediate good. The buttons are sold to the tailor to be used in the production of shirts, making it part of the production process rather than a final good. Option 4: Paper sold by a factory to a book binder
This is an intermediate good. The paper is sold to a book binder for further processing (binding books), so it is not a final good.

Step 1: Conclusion
Thus, the correct answer is Idli made by a cook in a family, as it is the final product consumed by the family.

Final Answer: Idli made by a cook in a family.