Goods and Services

Question 1

What are durable goods?

Answer 1

Durable goods last a long time for example 3 years or more and can withstand regular use without wearing out.

Question 2

What are non-durable goods?

Answer 2

Non-Durable goods are goods that do not last a long time, for example under a month.

Question 3

Example of a business providing a service

Answer 3

Transport - Trains, Bus, Tram and Taxi’s

Salon - Nails, Massages and Hair

Childcare, Personal Training, Car Mechanic and Tutoring

Question 4

Examples of Non-Durable Goods and Durable Goods

Answer 4

Durable - Phones, TV, Bikes and Fridges

Non-Durable - Packaged food, drinks and laundry detergent.

Question 5

Private Sector

Answer 5

Organisations that are owned by individuals and shareholders. These businesses are driven by profit

Question 6

Public Sector

Answer 6

Anything that is produced, sold or provided by organisations owned by the goverment.

Examples - Public Transport, Education,Emergency services, Healthcare, Law enforcement, Electricity and Infrastructure