Free Goods

Friday, January 13, 2017

Goods are any tangible thing which satisfies human wants. On the other hand, services are any activity which satisfies human wants. Usually, goods are first divided into two categories - Free Goods and Economic Goods.

Free Goods:
Ø  They are gifts of nature
Ø  They are not scarce
Ø  They are not paid for by consumers
Ø  Examples include; air, sunshine, etc
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