ECON 2K03 Lecture Notes - Intermediate Good, Canadian Labour Congress
1 Apr 2013
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In some cases, output is intended mainly for use by households: ex: personal banking income elastic, 2. In some cases, output is an intermediate good: ex: freight transportation from business to retailer, 3. Some services are produced privately, some privately with substantial government involvement and some directly by government: 4. Some services are non-tradable (like haircuts) and some are tradable (like financial services to businesses). Financial intermediation transfer of funds from savers to borrowers banks and private non-banks: 2. Financial brokerage transfer of financial claims stock markets, foreign exchange dealers: hydroelectricity, originally electricity was coal-fired, water harnessed to power mills, distributors were privately owned, hydro developments were important economic events.
