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Types of Goods

Types of Goods. Goods can be classified as consumer goods or capital goods Consumer Goods are those physical items that are used by individuals or groups in the household sector. E.g. Bed, PSP, cell phone, mirror, lamp

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Types of Goods

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  1. Types of Goods • Goods can be classified as consumer goods or capital goods • Consumer Goods are those physical items that are used by individuals or groups in the household sector. E.g. Bed, PSP, cell phone, mirror, lamp • Capital Goods – human made goods which are used in the production of other goods and services. Capital goods are used by firms in the producer sector. E.g. Photocopier, company car, bulldozer.

  2. Intermediate/ Semi – Finished Goods • Goods that are used as part of the production process and, while they are finished goods they are not of any use to anyone. • They are a type of capital good. • E.g A door is a finished good but it is not much use unless it is hung in a doorway. • Other examples, car tyres, fabric, watch straps, zips buttons.

  3. Consumer and Capital Goods • Some goods can be both consumer goods and capital goods. What they actually are depends on the purpose they are being used for. • A pen can be a capital good when being used in an office, but used at home it is a consumer good.

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