These goods are also known as consumer goods and are produced for the purpose of direct consumption by the end consumer. In simple words, final goods are commodities that are manufactured by a company for a subsequent consumption by the consumer. These goods satisfy the needs or wants of a consumer. Final goods consist of the following:
What is the difference between consumer goods and final goods?
The term "consumer goods" is another term for final goods. Final goods are divided into 2- Consumer goods and capital goods. Consumer Goods: Consumer goods include goods such as food and clothing, and services purchased for consumption purposes. Also called a consumer product, it may or may not be durable due to its nature.
Why are final goods important to consumer markets?
Final goods are essential to consumer markets, as they represent the completion of the production process and are ready for purchase and use by consumers. Some goods may be either final or intermediate goods. Is an egg, for example, a final or intermediate good?
