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Answer» The various types of goods are: - Physical (Tangible) goods and Intangible goods
- Economic goods and non-economic goods
- Durable goods and Perishable goods
- Private goods and Public goods
- Consumers’ goods and Producers’ goods
| Consumers’ goods | Producers’ goods | | 1. When a consumer consumes a good and the good is capable of directly satisfying a particular want then ilis called a consumer good. | 1. When a good is used at the intermediate stage of production of a final good or when it is purchased by a producer to produce a final good and it is not directly consumed by the consumers but the good helps in the production of a final good then such a good is called a producer’s good. | | 2. Cooked food which s ready tor consumption is an example of consumers’ goods. | 2. Cotton used to make cloth, machines used in factories to produce garments, etc. are used further for producing goods and hence are producers’ goods. |
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