Economic goods are the things that money can buy and that are the objects of our economic wants.

Question

Quizplus · Accepted Answer

Economic goods are defined as goods that have a price and are available in the market. They are the tangible and intangible products and services that satisfy people's needs and wants and that can be purchased with money. Examples of economic goods are food, clothing, cars, housing, education, healthcare, and entertainment. On the other hand, non-economic goods are the goods that do not have a price or are not tradable, such as air, sunlight, friendship, or love.

Economic Goods Are the Things That Money Can Buy and That