Which of the following statements best describes a good?
A) Goods are physical objects.
B) Goods are intangible items.
C) Goods are intangible concepts and thoughts about ideas or causes.
D) Goods are the benefits organizations receive for selling products and services.
E) Goods are intangible concepts and thoughts about products or services.

Question

Quizplus · Accepted Answer

Goods are physical objects that can be touched or felt. Examples of goods include cars, clothes, and food.

Note: B is incorrect as intangible items are known as services. C is incorrect as it describes abstract concepts, not goods. D is incorrect as it describes benefits received by the organization rather than the product itself. E is incorrect as it describes abstract concepts related to products or services which are known as branding or marketing concepts.

Which of the Following Statements Best Describes a Good