Goods and services Flashcards
1
Q
Types of goods and services- Goods Products Consumer durables Single use products Needs Wants
A
Types of goods and services.
Goods - physical objects that the business sell
Services - non physical objects that the business provides
Products - goods and services
Consumer durables - goods that last for years
Single use goods - goods that can only be used once
Needs - these are essential for survival
Wants - these aren’t essential for survival however we enjoy having them
