Intermediate Goods: Definition & Examples - Study.com

Intermediate goods are goods that are used by a business in the production of goods or services. Intermediate goods are also referred to as ... forTeachers forSchools forWorkingScholars® forCollegeCredit LogIn SignUp Menu forWorkingScholars® forCollegeCredit Plans Plans Courses Courses FindCoursesbySubject Science Math Business Psychology History English SocialScience Humanities Spanish ProfessionalDevelopment ByEducationLevel College HighSchool MiddleSchool TestPrep PopularTests… PopularTests SAT ACT TOEFL GMAT GRE CLEP GED ASVAB RealEstate TeacherCertification… TeacherCertification AEPA CEOE CSET/CBEST FTCE GACE ILTS MTEL MTLE MTTC MoGEA/MEGA NES NYSTCE OAE Praxis RICA TExES VCLA WEST Nursing… NursingTests HESI TEAS NCLEX PAXRN CNE OtherTests… OtherTests AP ASCP ASWB Accuplacer CHSPE CTEL DSST Finance FSA HSPT ISEE MBLEx NCE PERT PHR SHSAT TASC TECEP UExcel Exploreover 4,600 videocourses BrowseAllCourses SAT ACT TOEFL GMAT GRE CLEP GED ASVAB RealEstate AEPA CEOE CSET/CBEST FTCE GACE ILTS MTEL MTLE MTTC MoGEA/MEGA NES NYSTCE OAE Praxis RICA TExES VCLA WEST HESI TEAS NCLEX PAXRN CNE AP ASCP ASWB Accuplacer CHSPE CTEL DSST Finance FSA HSPT ISEE MBLEx NCE PERT PHR SHSAT TASC TECEP UExcel Credit Credit CreditOptions CreditOptions OnlineCollegeCredit HighSchool&GED CertificatesofCompletion HowitWorks TransferCredit TransferCredit AllTransferCredit FindYourSchool CollegeCoursesforCredit TransferringCredit HowItWorks EarnTransferableCredit&GetyourDegreefast Learnmore ContactSupport LessonTranscript Instructor: ShawnGrimsley Showbio Shawnhasamastersofpublicadministration,JD,andaBAinpoliticalscience. Intermediategoods,alsoknownasproducergoods,arethegoodsusedasinputoringredientstoproduceafinalgood.Explorethedefinitionandexamplesofintermediategoods,andlearnhowtoidentifywhatintermediategoodsareusedbybusinesses. Updated:09/01/2021 Createanaccount WhatAreIntermediateGoods?Intermediategoodsaregoodsthatareusedbyabusinessintheproductionofgoodsorservices.Intermediategoodsarealsoreferredtoasproducergoods.Aconsumergood,ontheotherhand,isagoodpurchasedbyaconsumerforpersonalconsumption.Infact,intermediategoodsareusedtomakeconsumergoods.Youcannotdeterminewhetheragoodisanintermediategoodoraconsumergoodbasedonwhatitis.Manygoodsarebothconsumergoodsandintermediategoods.Instead,whetheragoodisaconsumergoodoranintermediategooddependsuponhowit'sused.Ifagoodisusedtoproduceagoodforsaleortoprovideaservice,thenit'sanintermediategood.Ontheotherhand,ifagoodispurchasedforpersonalconsumption,thenit'snotanintermediategood. Anerroroccurredtryingtoloadthisvideo. Tryrefreshingthepage,orcontactcustomersupport. YoumustcCreateanaccounttocontinue watching Registertoviewthislesson Areyouastudentorateacher? Iamastudent Iamateacher CreateYourAccountToContinueWatching Asamember,you'llalsogetunlimitedaccesstoover84,000 lessonsinmath,English,science,history,andmore.Plus,getpracticetests,quizzes,andpersonalizedcoachingtohelpyou succeed. Getunlimitedaccesstoover84,000lessons. Tryitnow Itonlytakesafewminutestosetupandyoucancancelanytime. Alreadyregistered?Loginherefor access  Back WhatteachersaresayingaboutStudy.com Tryitnow Alreadyregistered? Loginhereforaccess Comingupnext: InternalStimulus:Definition&Explanation You'reonaroll.Keepupthegoodwork! TakeQuiz Watch NextLesson  Replay Justcheckingin.Areyoustillwatching? Yes!Keepplaying. Yournextlessonwillplayin 10seconds 0:01WhatAreIntermediateGoods? 0:58Examples 1:59LessonSummary Save Save Save Wanttowatchthisagainlater? LoginorsignuptoaddthislessontoaCustomCourse. LoginorSignup Timeline Autoplay Autoplay Speed Speed 10Kviews Video Quiz Course 10K views ExamplesLet'slookatsomeexamples: Waterisagoodthatconsumerspurchaseeverydayandisalsoanintermediategoodusedincountlessmanufacturingprocess. Ifyoubuyflourtobakeyourfamilyacake,it'saconsumergood,butifabakerbuysflourtobakeacakeforherbakery,it'sanintermediategood.Ontheotherhand,ifourbakerbuysflourtobakeherselfacake,theflourisaconsumergood. Ifyoubuyadiamondforyourwife,it'saconsumergood.Ifajewelerbuysadiamondforaringheisdesigningforsale,it'sanintermediategood. Ifyoubuyabasketballforyourkid,it'saconsumergood,butifaprofessionalbasketballteambuysoneforpractice,it'sanintermediategoodforaservice-athleticentertainment. Ifyoupurchasepencilsforyourchild'sschoolsupplies,theyareconsumergoods,butifanaccountantpurchasespencilstopreparetaxesforclients,they'reintermediategoodsusedinprovidingtaxpreparationservices. LessonSummaryLet'sreview!Anintermediategoodissimplyagoodthatisusedbyabusinesstoproduceconsumergoodsorprovideservicestoconsumers.Manygoodscanbebothconsumergoodsandintermediategoods.Youdeterminewhetheragoodisaconsumergoodoranintermediategoodbaseduponhowitisused.Ifit'susedtoproduceaconsumergoodorservice,thenit'sanintermediategood. TounlockthislessonyoumustbeaStudy.comMember. Createyouraccount Registertoviewthislesson Areyouastudentorateacher? Iamastudent Iamateacher UnlockYourEducation Seeforyourselfwhy30millionpeopleuseStudy.com BecomeaStudy.commemberandstartlearningnow. BecomeaMember Alreadyamember?LogIn  Back WhatteachersaresayingaboutStudy.com Tryitnow Alreadyregistered? Loginhereforaccess Createanaccount IntermediateGoods:Definition&Examples Starttoday.Tryitnow Business / IntroductiontoBusiness:HomeworkHelpResource IntroductiontoBusiness:HomeworkHelpResource 25chapters| 508lessons |1 flashcardset {{courseNav.course.topics.length}}chapters| {{courseNav.course.mDynamicIntFields.lessonCount}}lessons |{{course.flashcardSetCount}} flashcardset{{course.flashcardSetCoun>1?'s':''}} Ch1. TheDynamicBusinessEnvironment:... Goto TheDynamicBusinessEnvironment:HomeworkHelp Ch2. HomeworkHelpforSocialResponsibility... Goto HomeworkHelpforSocialResponsibilityandEthicalBehaviorinBusiness Ch3. EconomicsandBusiness:HomeworkHelp WhatisEconomics?-Definition&Types 6:46 CircularFlowofEconomicActivity:TheFlowofGoods,Services&Resources 6:03 CapitalismandtheFreeMarket:Definition&Limitations 6:05 CompetitionWithinFreeMarkets:Types&Summary 5:01 UnderstandingSocialism,Communism,andMixedEconomies:Comparison&Analysis 5:42 GrossDomesticProduct:DefinitionandComponents 4:56 DefiningandMeasuringtheUnemploymentRate 10:32 TheBusinessCycle:EconomicPerformanceOverTime 12:00 Productivity:TheEconomy'sLong-RunGrowthEngine 10:18 ConsumerPriceIndex:MeasuringtheCostofLivingandInflation 8:41 Recessionvs.Depression:DefinitionsandDifferentiation 7:28 HowFiscalPolicyandMonetaryPolicyAffecttheEconomy 5:53 WhatistheLawofDemandinEconomics?-Definition&Example 5:19 FixedCosts:Definition,Formula&Examples 4:15 FixedCostsList&Flashcards TotalCostinEconomics:Definition&Formula 4:23 Trade-OffsinEconomics:Definition&Examples 4:09 CommandEconomy:Definition,Characteristics,Advantages&Examples 5:50 CompetitiveMarket:Definition,Characteristics&Examples 4:06 ConvergenceTheory:Definition&Examples 5:30 CrowdingOutinEconomics:Definition&Effects 2:42 CyclicalUnemployment:Definition&Examples 4:33 DavidRicardo:EconomicTheories&Concept DeadweightLossinEconomics:Definition,Formula&Example 6:08 Demand-PullInflation:Definition,Theory,Causes&Examples 4:17 Diamond-WaterParadoxinEconomics:Definition&Examples 5:30 DiminishingMarginalUtility:Definition,Principle&Examples 4:34 DumpinginEconomics:Definition&Effects 5:00 EconomicBenefits:Definition&Concept 6:01 EconomicDeregulation:Definition,Benefits&Example 3:38 InterestCapitalization:Rules&Example 4:02 InterestGroup:Definition,Purpose,Theory&Examples 4:26 InterestRevenue:Definition&Formula IntermediateGoods:Definition&Examples 2:31 2:51 NextLesson InternalStimulus:Definition&Explanation InvisibleHandinEconomics:Definition&Theory 3:06 IrvingFisher:Biography&TheoryofInterest JohnMaynardKeynes:EconomicTheory&Overview JosephJuran'sTheory&DefinitionofQuality 3:17 KeynesianEconomics:Definition,History,Summary&Theory 3:36 LaborMarket:Definition&Theory 6:10 LaissezFaireEconomics:Definition&Examples 6:01 LawofSupply:Definition&Example 3:55 LegalMonopoly:Definition&Examples 3:53 LMCurveinMacroeconomics:Definition&Equation 4:54 MacroeconomicEquilibrium:Definition&Overview 5:09 MarginalAnalysisinEconomics:Definition,Formula&Examples 5:22 MarginalBenefitinEconomics:Definition&Example 2:43 MarginalProductofLabor:Definition,Formula&Example 3:24 MarginalProduct:Definition&Example MarginalRateofSubstitution:Definition,Formula&Example 5:28 MarginalValueinEconomics:Definition&Theorem 5:14 MarketCoverage:Definition&Strategy 3:51 MarketPowerinEconomics:Definition,Sources&Examples 4:47 MediumofExchangeinEconomics:Definition&Examples 4:10 MonopolisticCompetition:Definition,Theory,Characteristics&Examples 3:41 MonopolyPower:Definition,Sources&Abuse MoralHazardinEconomics:Definition&Examples 5:33 MultiplierinEconomics:Definition,Effect&Formula 4:53 Oligopoly:Definition,Characteristics&Examples 3:49 PayoffMatrixinEconomics:Theory&Examples 4:45 PerfectCompetition:Definition,Characteristics&Examples 4:10 PerfectlyCompetitiveMarket:Definition,Characteristics&Examples 3:22 PointElasticity:Method&Formula 6:45 PostHocFallacyinEconomics:Definition&Examples 4:54 PotentialOutputinEconomics:Definition&Overview PriceCeilinginEconomics:Definition,Effects&Examples 4:29 Goto EconomicsandBusiness:HomeworkHelp Ch4. BusinessinGlobalMarkets:Homework... Goto BusinessinGlobalMarkets:HomeworkHelp Ch5. FormsofBusinessOwnership:Homework... Goto FormsofBusinessOwnership:HomeworkHelp Ch6. EntrepreneurshipandSmallBusiness:... Goto EntrepreneurshipandSmallBusiness:HomeworkHelp Ch7. ManagingandLeadinginBusiness:... Goto ManagingandLeadinginBusiness:HomeworkHelp Ch8. LeadershipStylesinBusiness:Homework... Goto LeadershipStylesinBusiness:HomeworkHelp Ch9. OrganizationalManagement:Homework... Goto OrganizationalManagement:HomeworkHelp Ch10. BusinessProductionandOperations:... Goto BusinessProductionandOperations:HomeworkHelp Ch11. WorkplaceProductivity&Motivation:... Goto WorkplaceProductivity&Motivation:HomeworkHelp Ch12. BasicsofHumanResources:Homework... Goto BasicsofHumanResources:HomeworkHelp Ch13. ManagingtheEmployer-Worker... Goto ManagingtheEmployer-WorkerRelationship:HomeworkHelp Ch14. BusinessMarketingBasics:Homework... Goto BusinessMarketingBasics:HomeworkHelp Ch15. ProductDevelopmentandRetailing:... Goto ProductDevelopmentandRetailing:HomeworkHelp Ch16. ProductDistribution&SupplyChain... Goto ProductDistribution&SupplyChainManagement:HomeworkHelp Ch17. PricingStrategyinMarketing:Homework... Goto PricingStrategyinMarketing:HomeworkHelp Ch18. ProductPromotion:HomeworkHelp Goto ProductPromotion:HomeworkHelp Ch19. MISBasics:HomeworkHelp Goto MISBasics:HomeworkHelp Ch20. ImplicationsofInformationTechnology:... Goto ImplicationsofInformationTechnology:HomeworkHelp Ch21. RiskManagement:HomeworkHelp Goto RiskManagement:HomeworkHelp Ch22. AccountingBasics:HomeworkHelp Goto AccountingBasics:HomeworkHelp Ch23. FinancialManagement:Homework... Goto FinancialManagement:HomeworkHelp Ch24. SecuritiesMarkets:Homework... Goto SecuritiesMarkets:HomeworkHelp Ch25. MoneyandFinancialInstitutions:... Goto MoneyandFinancialInstitutions:HomeworkHelp IntermediateGoods:Definition&ExamplesRelatedStudyMaterials RecommendedLessonsandCoursesforYou RelatedLessons RelatedCourses RelatedLessons NationalIncomeAccounting MarginalPropensitytoConsumeFormula|HowtoCalculateMPC ContractionaryMonetaryPolicy|SlowingtheEconomyDown IncomeEffectinEconomics:Examples|WhatistheIncomeEffect? ConsumerGoodsTypes&Examples|WhatareConsumerGoods? GrossDomesticProduct:UsingtheIncomeandExpenditureApproaches Positivevs.NormativeEconomics PostHocFallacyinEconomics|Overview,Reasoning&Examples NationalIncomeAccounting|Formula,Uses&Benefits ConsumptionFunction:RelationshipBetweenMarginal&AveragePropensitytoConsume TheCircularFlowofIncome:Definition&Model SalesTaxOverview&Examples|WhatareTaxableSales? FactorsofProductioninEconomics:Definition,Importance&Examples WhytheUnemploymentRateDecreasesandIncreases CapitalGoodsConcept&Examples|WhatAreCapitalGoods? FinishedGoodsConcept&Examples|WhatAreFinishedGoods? CentralBankofIndia:Function&Roles ElasticityinEconomics|Symbol,Theory&Formula CrowdingOutEffect|Economics&Example PhysicalCapitalExamples&Impact|WhatisPhysicalCapital? RelatedCourses QuantitativeAnalysis:TutoringSolution HoltMcDougalEconomics-ConceptsandChoices:OnlineTextbookHelp MoneyManagement:Help&Review Business120:InternationalBusiness CSETBusinessSubtestI(175):Practice&StudyGuide CSETBusinessSubtestII(176):Practice&StudyGuide CSETBusinessSubtestIII(177):Practice&StudyGuide ILTSBusiness,Marketing,andComputerEducation(171):TestPracticeandStudyGuide IntrotoExcel:EssentialTraining&Tutorials PrinciplesofMarketing:HelpandReview IntroductiontoManagement:HelpandReview UExcelIntroductiontoMacroeconomics:StudyGuide&TestPrep FinancialAccounting:TutoringSolution IntrotoBusiness:HelpandReview UExcelWorkplaceCommunicationswithComputers:StudyGuide&TestPrep EffectiveCommunicationintheWorkplace:HelpandReview BusinessMath:HelpandReview PrinciplesofMarketingTextbook PrinciplesofManagementTextbook IntroductiontoBusinessTextbook Related RecentlyUpdated Popular ExploreSubjects HomeworkHelp BrowsebyCourses BusinessCourses ContinuingEducationCourses CareerCourses CareerDevelopmentCourses CorporateLearningCourses Business100:IntrotoBusiness IntroductiontoOrganizationalBehavior:CertificateProgram UExcelOrganizationalBehavior:StudyGuide&TestPrep IntroductiontoBusiness:CertificateProgram IntroductiontoBusinessLaw:CertificateProgram CLEPIntroductoryBusinessLaw:StudyGuide&TestPrep PrinciplesofMacroeconomics:CertificateProgram IntroductiontoHumanResourceManagement:CertificateProgram Economics101:PrinciplesofMicroeconomics CLEPPrinciplesofMarketing:StudyGuide&TestPrep Communications101:PublicSpeaking Business108:BusinessEthics Business104:InformationSystemsandComputerApplications BrowsebyLessons PublicSpeaking:Assignment1-InformativeSpeech PublicSpeaking:Assignment2-PersuasiveSpeech PublicSpeaking:Assignment3-SpecialOccasionSpeech BusinessEducationPublications,Organizations&Trends TransitioningfromSchooltoaCareer Quiz&Worksheet-GenerallyAcceptedAccountingPrinciples Quiz&Worksheet-TheRoleofTechnologyinAccounting Quiz&Worksheet-AccountingUsesforExternalandInternalUsers Quiz&Worksheet-FeaturesofFinancialStatements Quiz&Worksheet-WhyEthicsinAccountingisImportant FundamentalConceptsinAccounting Recording&PlanninginAccounting AccountingAnalysis&Evaluation EconomicActivities&Markets BusinessMarkets&Globalization LatestCourses TExESScienceofTeachingReading(293):Practice&StudyGuide NextGenNCLEX-PNStudyGuide&Practice NextGenNCLEX-RNStudyGuide&Practice TExESCoreSubjectsEC-6(391):Practice&StudyGuide TExESSchoolCounselor(252):Practice&StudyGuide AbouttheVCLATests AbouttheTExESExams AbouttheRICAExam AboutthePraxisTests AbouttheOSATTests HowtoPickYourHomeschoolCurriculum RoleofStudentSupportinOpen&DistanceLearning TExESPrincipalExamRedesign(068vs.268) TeacherSalarybyState ESLResourceGuideforTeachers WhatisaHomeschoolCo-op? HowtoStartHomeschoolingYourChildren LatestLessons Mechanistic&OrganicOrganizationalBusinessStructures ChemicalNomenclature&Notation FactorsImpactingFamily&ConsumerSciences HeritabilityCoefficient ClinicalJudgmentCaseStudy-HealthPromotion&DiseasePrevention Eisnerv.Macomber(1920):CaseBrief&Facts Stuartv.Laird:Summary&Significance WhatareDinosaursRelatedto?-Quiz&WorksheetforKids Quiz&Worksheet-CommonHealthProblemsintheUS Quiz&Worksheet-MemoryHolein1984 Quiz&Worksheet-TypesofPersonalityDisorders Flashcards-RealEstateMarketingBasics Flashcards-PromotionalMarketinginRealEstate ClassroomManagementResourcesforTeachers LessonPlansforTeachers PopularCourses InstructionalStrategiesforTeachingOnlineCourses ILTSSocialScience-Psychology(248):TestPracticeandStudyGuide FrindleStudyGuide PoliticalScienceTextbook UExcelGeneralChemistryI:StudyGuide&TestPrep CLEPInformationSystemsFlashcards CAHSEE-ProblemswithPercents:HelpandReview Quiz&Worksheet-Hypermagnesemia Quiz&Worksheet-HematomaCharacteristics&Treatment Quiz&Worksheet-Ascites Quiz&Worksheet-TheWarofAustrianSuccession Quiz&Worksheet-AftermathofReconstructionintheSouth PopularLessons AccumulationintheWaterCycle:Definition&Purpose BillofRightsLessonPlanforElementarySchool ExcelsiorCollegeBSinBusinessDegreePlanUsingStudy.com HSPTTestDayPreparation FloridaNextGenerationSunshineStateStandards WhatIsCLEP? MinnesotaStateLanguageArtsStandards IllinoisScienceStandardsfor3rdGrade RomeoandJulietAct2LessonPlan FTCETestUpdatesDuringtheCoronavirusPandemic IndianaScienceStandards NebraskaStateScienceStandards Math Math-Videos Math-Quizzes Math-Questions&Answers SocialSciences SocialSciences-Videos SocialSciences-Quizzes SocialSciences-Questions&Answers Science Science-Videos Science-Quizzes Science-Questions&Answers Business Business-Videos Business-Quizzes Business-Questions&Answers Humanities Humanities-Videos Humanities-Quizzes Humanities-Questions&Answers Education Education-Videos Education-Quizzes Education-Questions&Answers History History-Videos History-Quizzes History-Questions&Answers ArtandDesign ArtandDesign-Videos ArtandDesign-Quizzes ArtandDesign-Questions&Answers TechandEngineering TechandEngineering-Videos TechandEngineering-Quizzes TechandEngineering-Questions&Answers HealthandMedicine HealthandMedicine-Videos HealthandMedicine-Quizzes HealthandMedicine-Questions&Answers UsetheIntermediateValueTheoremtoshowthatthecurvesy=x^2andy=cos(x)intersect.Applythebisectionmethodtoestimatethex-valueoftheintersectiontotwodecimalpoints. Drawastructurerepresentingthetransitionstateforthefirststepofthemechanismofhydrolysisoft-butychloride.ignoresolvents. CrooksCorporationprocessessugarbeetsinbatchesthatitpurchasesfromfarmersfor$57abatch.Abatchofsugarbeetscosts$12tocrushinthecompany'splant.Twointermediateproducts,beetfi 1.Atreasurerinadvertentlytransposedtwodigitsinthedebitamountwhenenteringajournalentrytorecordissuanceofanewdebt.Whichofthefollowingcontrolproceduresmightbestmitigatethi Thevalueofintermediategoodsthataresold:A)isaddedtoGDPiftheywereproducedandsoldinthecurrentyear.B)isaddedtoGDPiftheywereproducedinapreviousyear.C)Isnotaddedto Ifthepriceofcottonincreases,thenthepriceofcotton-shirtswouldalsotendtoincrease.Thisisbecausea. Thedemandforshirtswillincreaseb. Cottonandshirtsarecomplementsc. Thedemand Luluorders20pairsofnavybluepantsfromPeterfor$4,000,withdeliveryduenolaterthanNovember15.OnNovember6,Peterdeliversthegoodstoacommoncarrierforshipment.Twominuteslater, WhenRefineriesInc.,processessugarcanethatitpurchasesfromfarmers.Sugarcaneisprocessedinbatches.Abatchofsugarcanecots$40tobyfromfarmersand$13tocrushinthecompany'splant. CoakleyBeetProcessors,Inc.,processessugarbeetsinbatches.Abatchofsugarbeetscosts$50tobuyfromfarmersand$12tocrushinthecompany'splant.Twointermediateproducts,beetfiberand CobeCompanyhasalreadymanufactured24,000unitsofProductAatacostof$25perunit.The24,000unitscanbesoldatthisstagefor$450,000.Alternatively,theunitscanbefurtherprocessedat Createanaccounttostartthiscoursetoday Usedbyover30millionstudentsworldwide Createanaccount Likethislesson Share Exploreourlibraryofover84,000 lessons Search Browse Browsebysubject CollegeCourses Business English ForeignLanguage History Humanities Math Science SocialScience SeeAllCollegeCourses HighSchoolCourses AP CommonCore GED HighSchool SeeAllHighSchoolCourses OtherCourses College&CareerGuidanceCourses CollegePlacementExams EntranceExams GeneralTestPrep K-8Courses SkillsCourses TeacherCertificationExams SeeAllOtherCourses Upgradetoenroll × Enrollinginacourseletsyouearnprogressbypassingquizzesandexams. Trackcourseprogress Takequizzesandexams Earncertificatesofcompletion Youwillalsobeableto: CreateaGoal Createcustomcourses Getyourquestionsanswered UpgradetoPremiumtoaddallthesefeaturestoyouraccount! UpgradeNow UpgradetoPremiumtoaddallthesefeaturestoyouraccount!