types of goods and services

types of goods and services. goods and services are utilities created or produced in order to satisfy human wants and needs

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    TYPES OF GOODS AND SERVICES

 Examples of consumer goods are motor cars, milk, cake, radio, television set, and the services of a soldier, police, hairdresser, barber, nurse and lawyer.

CONSUMER GOODS AND SERVICES: 

These are goods and services that can satisfy the

Services that can satisfy the consumer’s immediate needs. These goods do not require further process of production for their use by the consumers.

Examples of consumer goods are motor cars, milk, cake, radio, television set, and the services of a soldier, police, hairdresser, barber, nurse and lawyer.

            Consumer goods can further be grouped into two classes. These are durable and non – durable goods.

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Durable goods and services:

 Durable goods are goods that can be used over and over again. They are used many times or for many years before they get worn out. Examples are radio, television set, shoes, tables, shirts, cooking pots, and spoon. They are generally referred to as Consumer durable goods.

Non – durable goods and services:

These are goods that are used up from one use. In other words, they are used up at once; Examples are meat, egg, bread, drugs and milk.\\\\

Producer or capital goods and services:

These are goods used by people to produce some other commodities or services. Examples are buildings, motor cars, Lorries, tailor’s tools and machines. These goods are used to carry out productive activities.

 

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1. of demand curve and used
2. advertising industry
3. factors of production
4. entrepreneur
5. joint stock company
6. public enterprises
7. private enterprises
8. limited liability companies