An intermediate good is a good that is used in the production process that creates another good, which can be a finished product or even another intermediate good.

Christy Bieber has a JD from UCLA School of Law and began her career as a college instructor and textbook author. She has been writing full time for over a decade with a focus on making financial and ...

Fact checked by Ariel Courage Reviewed by Erika Rasure Key Takeaways Utility functions measure consumer preferences and satisfaction with goods or services.They help analyze consumer decisions to ...

Skilled labor is a broad category that includes all jobs that require some level of professional training, certification, education, or specialized know-how. What does “skilled labor” mean? Skilled vs ...