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GOODS
SERVICES
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Goods And Services

 

When you have finished this page, try the Goods and Services Quiz.

Economics is concerned with the production and distribution of goods and services. Goods would be defined as anything that anyone wants or needs. Services would be the performance of any duties or work for another; helpful or professional activity. The distribution of goods and services is referred to as marketing. The marketing of goods and services can add almost as much to the cost as the actual manufacturing of the goods. Marketing a product refers to the advertising, and other efforts to promote a products sale.

There are many different kinds of goods. Consumer goods are those such as food and clothing, that satisfy human wants or needs. Producer goods are those such as raw materials and tools, used to make consumer goods. Capital goods are those such machinery, used in the production of commodities or producer goods.

There are untold numbers of services. A short list would include educational, health, communication, transportation, social services.

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