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-Classify each of the following items as a final good or service or an intermediate good or service and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services:
-Banking services bought by a student
-New cars bought by Hertz, the car rental firm
-Newsprint bought by the National Post
-The purchase of a new limo for the prime minister.
-New house bought by Alanis Morissette.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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