Can the same good be final or intermediate? Elaborate?
Yes the same good can be final or intermediate.
So, it must be noted that distinction is made on the basis of end use. If end use of a good is consumption or investment, then it is a final good. However, if the good is used for resale or further production (in the same year), then it is an intermediate good.
Final goods refer to those goods which are used either for consumption or for investment.
Final Goods include:
(i) Goods purchased by consumer households as they are meant for final consumption (like milk purchased by households).
(ii) Goods purchased by firms for capital formation or investment (like machinery purchased by a firm).
It must be noted that final goods are neither resold nor used for any further transformation in the process of production.
Intermediate goods refer to those goods which are used either for resale or for further production in the same year.
Intermediate Goods include:
(i) Goods purchased for resale (like milk purchased by a Dairy Shop).
(ii) Goods used for further production (like milk used for making sweets).
Thus, if milk purchased by households , it is final good and if milk purchased by dairy shop for resale it is intermediate good.
Regards