Steel sheets are used for making automobiles and copper used for making utensils, what type of goods are these (Steel and Copper)?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Intermediate Goods.
Steel and copper in this context are used as inputs in the production process — steel for making automobiles and copper for making utensils. Since they are not meant for final consumption but are used to produce final goods, they are classified as intermediate goods.