Q:
What are some examples of economic goods?
A:
Quick Answer
An economic good is a physical object or service that has value and can be sold; some examples include bananas, toys, haircuts and cars. Sometimes a distinction is made between tangible products, simply called goods, and intangible services.
Continue ReadingFull Answer
The word "commodity" can also refer to a tangible good, but it generally means a raw material or primary product. In order for it to be considered a good, the object or service must be able to be sold at a prize above zero. Goods satisfy wants and provide utility to the consumer. Certain types of goods are considered tangible in economic theory but are not so in common speech; an example is information.
Learn more about EconomicsSources:
Related Questions
-
Q:
What are some examples of elastic and inelastic goods?
A: Furniture, cars, televisions, jewelry and phones are examples of elastic goods. They are luxuries. Food grains, vegetables, milk, gas and electricity are s... Full Answer >Filed Under: -
Q:
What are some examples of complementary goods?
A: Complementary goods are materials or products whose use is connected with the use of a related or paired commodity in a manner that demand for one generate... Full Answer >Filed Under: -
Q:
What are examples of elastic and inelastic goods?
A: Examples of elastic goods are coffee, airline tickets and stocks. Examples of inelastic goods are water, electricity, and telephone service. The elasticity... Full Answer >Filed Under: -
Q:
What are examples of fungible goods?
A: Fungible goods include money, oil, bonds and unopened consumer items on store shelves, such as boxes of cereal, oatmeal and yogurt. Fungible goods classify... Full Answer >Filed Under:
You May Also Like
-
Q:
What are some examples of vision statements?
-
Q:
How much debt is the United States in?
-
Q:
What are some examples of wedding program writing?
-
Q:
What are some examples of African names for males?
-
Q:
What are the disadvantages of regional economic integration?
-
Q:
What are some examples of a stand-alone operating system?
