Take ten different types of goods and classify them as 'Free goods and Economic goods ; Consumer goods and Producer goods and ' Private goods and public goods?
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There are different types of goods that exists in the field of economics and they consist of the following;
Toilets papers,Loaf of bread,Flood control,Fresh air,Steel,Grapes,Television,Wine,Water,Air,Internet,
The following can be classifies ads the following categories of goods as follows below;
Producer goods; used to produce other goods: Grape and steel
Consumer goods;purchased purposely for consumption: wine,milk and television.
Private goods;Are privately owned and consumers may excluded in thye consumption of the same.Once used canot be used again:loaf of bread and toilet papers.
Public goods: these are made available purposely for public use;Fresh air and flood control.
Free goods;these are goods those that have zero oppportunity cost:water and air.
Economic goods:These goods have an utility benefit to the society;food and clothing