What are goods? What are its various kinds?
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Goods can be anything from merchandise, supplies, raw materials to already completed products. All items that are movable and are sold to a particular buyer. Goods are usually categorised into any of the following: ... Soft goods: are consumer goods that are not durable and can break, such as clothing.
Explanation:
There are four different types of goods in economics, which can be classified based on excludability and rivalrousness: private goods, public goods, common resources, and club goods. Private Goods are products that are excludable and rival. Public goods describe products that are non-excludable and non-rival.
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