Final good

From Freepedia

In economics Final goods are goods that are ultimately consumed rather than used in the production of another good. For example, a car sold to a consumer is a final good; the components such as tires sold to the car manufacturer are not; they are intermediate goods used to make the final good.

When used in measures of national income and output the term Final goods only includes new goods. For instance, the GDP excludes items counted in an earlier year to prevent double counting of production based on resales of the same item second and third hand.

Consumer goods are exactly the same as final goods, but with the subtle difference that they are specifically intended for the mass market. For instance, consumer goods do not include investment assets, like precious antiques, even though these items are final goods.

Types of goods (edit) collective good (social good) - private good - common good - common-pool resource - club good - public good - global public good - Accounting good Rivalrous good and Non-excludable good complement good vs. substitute good free good vs. scarce good durable good - non-durable good - intermediate good (producer good) - final good - consumer good - capital good. Giffen good - inferior good - normal good - luxury good - Veblen good - superior good search good - experience good - post-experience good - merit good - credence good