Take ten different types of goods and classify them as 'Free goods and economics goods', 'Consumer goods and producer goods' and 'Private goods and public goods'.
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What is goods and services in economics?
A SERVICE is an action that a person does for someone else. Examples: Goods are items you buy, such as food, clothing, toys, furniture, and toothpaste. ... Goods are tangible objects that satisfy people's wants. Services are actions, such as haircuts and car repair, which also satisfy people's wants.
What are the 3 types of goods?
There are three main types of consumer goods: durable goods, nondurable goods, and services. Durable goods are consumer goods that have a long-life span (e.g. 3+ years) and are used over time. Examples include bicycles and refrigerators. Nondurable goods are consumed in less than three years and have short lifespans
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