ECON 203 Lecture Notes - Lecture 1: Intermediate Good, Final Good

• School: University of Calgary
• Department: Economics
• Course: ECON 203
• Professor: Peter Tracey

Document Summary

All multiple choice questions for both midterms and finals. Your thoughts, don"t need citations put things in your own words. Use the name peter in emails, no heys. The market value of all final goods and services produced in an area(country) during a period of time(year). Goods in a marketplace have different values, the value of the apples. Produce 4 apples and price is 10$ then the value is 40$. A shirt is a final good, the cotton in the shirt is not a final good it is an intermediate good. Firm - value of product - value added.