Understanding Goods and Services

What are goods in the context of goods and services?

• Jobs performed by people

• Digital services provided online

• Physical items that can be bought

• Emotional support from friends

Which of the following is NOT an example of a good?

• A bottle of water

• A loaf of bread

• A haircut

• A pair of shoes

What is a key characteristic of services?

• They are tangible items

• They are performed by people for others

• They can be stored for later use

• They are always free of charge

Which of the following is an example of a service?

• Eating a sandwich

• Buying a new laptop

• Getting a medical check-up

• Purchasing a book

Who provides services when you dine at a restaurant?

• Doctors and nurses

• Firefighters

• Chefs, waiters, and waitresses

• Barbers and hairdressers