Question

define economic goods, bads and neuters.​

Answer 1

$\huge\boxed{\fcolorbox{purple}{ink}{Answer}}$

When a consumer is never saturated with a commodity and would always prefer more to less, then such a commodity is referred to as ‘economic good‘ or simply ‘good’. On the contrary, by ‘economic bad’ or just ‘bad’ we mean a commodity for which less is preferred to more.

The consumer is not only saturated with such commodities, but also gets negative utility or disutility.