Goods which have to be paid for are known as
ECONOMICS
WAEC 2013
Goods which have to be paid for are known as
- A. physical goods
- B. economic goods
- C. free goods
- D. intangible goods
Correct Answer: B. economic goods
Explanation
An economic good is a consumable item that is useful to people but scarce in relation to its demand, so that human effort is required to obtain it. People work towards owning these goods because they are essential. Example include Food, clothing and housing.
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