Definition
Goods are physical products and services are activities that satisfy wants and needs.
Why It Matters
They are the basis of economic activity.
Example
Buying food and paying for a haircut.
Malone Global University
Malone Global University
Economics Glossary – Malone Global University
Goods are physical products and services are activities that satisfy wants and needs.
They are the basis of economic activity.
Buying food and paying for a haircut.