Types Of Goods


 
 
Concept Explanation
 

Types Of Goods

Final Goods

An item that is meant for final use and will not pass through any more stages of production or transformation ream for example an article of clothing which is ready to be sold finally to the consumers for final use. Such a good is called a final good.

Final goods may be of two types consumption goods and capital goods. we can distinguish between Goods like food, and clothing, and services like recreation that are consumed when purchased by their ultimate consumers are called consumption goods or consumer goods. (This also included services which are consumed but for convenience we m c refer to them as consumer goods.)Then there are other good that are of durable character which are used in the product process.

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