Practicing Success
Coal used by a steel factory during the accounting year is a: |
Complementary good Intermediate good Substitute good Final good |
Intermediate good |
An intermediate good is a product used to produce a final good or finished product—also referred to as a consumer good. Metallurgical coal is an essential ingredient in the production of steel, one of the most widely used building materials on earth. As coal is an ingredient in the production of steel we consider it as an "Intermediate good". |