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True, A good can be an intermediate good as well as a final good, depending upon its nature of use. For example, a car purchased by a household is a final good, whereas, it will be an intermediate good if…
False, Market price can be less than factor cost if net indirect taxes (NIT) are negative. Market price can also be equal to factor cost if NIT is zero.
True, It is possible when depreciation (consumption of fixed capital) is Zero
False, It depends on the end use of bread. When it is purchased by a household, it is a consumer good. If it is purchased by a restaurant, it is a producer (intermediate) good.
True Intermediate goods have a derived demand as their demand depends on demand for final goods. On the other hand, final goods have a direct demand as they satisfy the wants directly.
Only Expected (Expected/Unexpected) obsolescence is considered for the estimation of consumption of fixed capital.
National Income includes only Final Goods.
Factor Income is received by factors of production.
Intermediate Goods are still within the production boundary
Milk purchased by households is a final good, while milk purchased by a sweet shop is an intermediate good.