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What is meant by intermediate consumption? - Economics

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Question

What is meant by intermediate consumption?

Very Short Answer
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Solution

Intermediate consumption refers to the value of goods and services used up in the process of producing final goods and services during an accounting year.

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Chapter 20: Methods of Measuring National Income - TEST YOURSELF QUESTIONS [Page 408]

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Frank Economics [English] Class 12 ISC
Chapter 20 Methods of Measuring National Income
TEST YOURSELF QUESTIONS | Q 8. | Page 408
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