ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Good
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Service
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Either A or B
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None of the above
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Detailed explanation-1: -New automobiles for sale and haircuts purchased from a barber are all examples of final goods.
Detailed explanation-2: -A haircut is a service. When you purchase a haircut, it’s not something you can hold, give to another person, or resell. “Pure” services are offerings that don’t have any tangible characteristics associated with them. Skydiving is an example of a pure service.
Detailed explanation-3: -Goods are tangible items sold to customers, while services are tasks performed for the benefit of the recipients. Examples of goods are automobiles, appliances, and clothing. Examples of services are legal advice, house cleaning, and consulting services.
Detailed explanation-4: -Final goods consist of the following: Goods that are purchased by the households are meant for the final consumption. For example, television, milk, ready to eat foods, medicines, and more. It also consists of the goods that are purchased by the firms for investment purposes or for capital formation.
Detailed explanation-5: -Computers. Books. Notepads. Laptop bags. Water bottles. Cars. Jackets. Cell phones. More items •03-Feb-2023