Goods
Goods are ________ or purchasable ideas that can transfer ownership.
What are tangible items?
A service that cannot be touched and is performed rather than produced.
What is an intangible service?
Shared among people who pay a recurring payment, like subscriptions.
What are club goods?
________ _______ are those where the more of a good a business produces, the harder it is for another to make the same good.
What are rival goods?
Services provided to individuals to help solve a customer need, such as food delivery or hair salons.
What are personal services?
Goods that everyone can use without paying, such as water or air.
What are common goods?
This occurs when the supply of a good cannot meet the demand of consumers.
What is scarcity?
When businesses serve other businesses to help meet the needs of their customer
What is a business service?
Goods where producers cannot prevent people from having it.
What is a nonexclusive good?
Goods exclusively owned by the purchaser can only be accessed upon payment.
What are private goods?
Paid for by taxes and nonprofit organizations, meant to benefit society as a whole, such as fire and rescue or education.
What are social services?
Goods that consumers can only access if they pay for them.
What is a private good?
Goods that producers can prevent people from having them.
What are excludable goods?
The changes that impact how a service is provided, such as time, location, or resources available.
What is inconsistency in services?
Those where the production of the good does not limit another from producing the same good.
What is a nonrival good?