I] Classification of goods on the basis of price paid On the basis of price paid goods are classified as Free goods and economic goods. Free goods Free goods are goods which are given to us by nature and therefore…
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BASIC CONCEPTS – GOODS – II
Tagged with: Basic concepts, economic goods, free goods, goods, types of goods
Posted in General Economics
Posted in General Economics
BASIC CONCEPTS – GOODS – I
GOODS: According to Dr. Alfred Marshall, “All those things which satisfy human wants are goods.” The term good does not imply an ethical or legal meaning. The term goods is inclusive of services. KIND OF GOODS / CLASSIFICATION OF GOODS.…
Basic Concepts – Introduction
BASIC CONCEPTS Basic concepts need to be understood in order to avoid misunderstanding. Every science uses certain terms which are commonly used in ordinary language. When they are used in scientific discussion, they are assigned specific and scientific meaning. In…