Items bought by individuals to provide personal enjoyment are termed: a. personal goods. b....
Question:
Items bought by individuals to provide personal enjoyment are termed:
a. personal goods.
b. consumption goods.
c. consumption or investment goods.
d. standard goods.
Goods and Services
Goods and Services are those which are produced by producers and consumed by consumers. The producer produces them to increase their sales and revenue. The consumer consumes them to satisfy their needs and wants.
Answer and Explanation: 1
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View this answerThe option b is correct
When individuals buy goods to satisfy their wants or for personal enjoyment, that depicts consumption goods, consumption...
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Goods & Services: Definition & Examples
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Chapter 1 / Lesson 2
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Learn what constitutes goods and services in economics. Understand the differences between and learn to distinguish goods and services and see examples of each.
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