What do you understand by the following terms?
-free goods
-Producer goods
-Public goods
-Non-material goods
Answer:
-free goods: goods available in abundance as gifts of nature.
-Producer goods: goods used to produce other goods and services.
-Public goods: goods that belong to no one in particular But are owned by the government or by all of us collectively
-Non-material goods: commodities that are intangible.
-Producer goods: goods used to produce other goods and services.
-Public goods: goods that belong to no one in particular But are owned by the government or by all of us collectively
-Non-material goods: commodities that are intangible.
Share To Friends Via:
Explain the following as used in satisfaction of human wants.
-Utility
-Producer goods
-Scarcity and choice
-Scale of preference 
