Final Social Product, a part of aggregate social product which socialist society obtains in the form of manufactures and uses for working people’s consumption, for replacing the means of production worn out during the year, and for accumulation. In physical-natural terms, it consists of the consumer goods and means of labour society created during a year (see Means of Production). The final social product also includes the objects of labour created during a year (raw materials, semi- 139 finished products, etc.), which have not been included in current productive consumption during the given year, but are either used as carry-overs to ensure the continuity of the production process, or go into the reserve stock or insurance fund, or are exported. The final product of socialist enterprises is commodity output. Unlike the final product, the gross social product includes all the items produced and consumed during a year. Therefore, the value of the gross social product differs from the value of the final product by the amount of the objects of labour consumed during the year. The value of the final social product consists of the sum total of expenditures of living and materialised labour which form the newly created and transferred value. By its structure the transferred value of the final product includes the annual wear of the means of labour, expressed by the value of depreciation, as well as the value of consumed raw and other materials, semi-finished products, etc., taken from the stocks of previous years. The transferred value of the gross social product includes the value of the used-up means of production, which are a result of previous years, plus (unlike the final product) the value of the means of production manufactured and consumed during the current year, that is, current consumption. For socialist society, it is important to know not only the movement of all labour expenditures and the entire range of production activities, which is reflected in the gross social product, but the actual result of the past year as well. Alongside national income, this result is reflected by the final social product (see Final Results of Production Activity). An economic analysis of the gross and final social products, as well as an analysis of the national income, provide a definitive picture of extended socialist reproduction (see Reproduction, Socialist), while the use of these categories in planning makes the plans more realistic and helps reveal the reserves to ensure higher efficiency of social production.