Final good

A final good or consumer good is a final product ready for sale that is used by the consumer to satisfy current wants or needs, unlike an intermediate good, which is used to produce other goods. A microwave oven or a bicycle is a final good.

When used in measures of national income and output, the term "final goods" includes only new goods. For example, gross domestic product (GDP) excludes items counted in an earlier year to prevent double counting based on resale of items. In that context, the economic definition of goods also includes what are commonly known as services.

A microwave oven, c. 2005: an example of a final good or consumer good

Manufactured goods are goods that have been processed in any way. They are distinct from raw materials, but include both intermediate goods and final goods.


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