Economics

Goods that are intended for final use by the consumer directly

• Capital Goods

• Consumer Goods

• Mechanical Goods

• Utility goods

Goods used in the production of other goods.

• Capital Goods

• Physical Goods

• Consumer Goods

• Service Goods

Total amount of satisfaction that a

consumer derives by consuming a product. In other words, it

can be described as the satisfying power of any good or

commodity.

• Utility

• Value

• Wealth

• Price

the maximum amount a consumer is willing to pay for

an item in a market economy, or the amount of time an individual will sacrifice waiting

to obtain a government-rationed good in a socialist economy.

• Utility

• Value

• Wealth

amount paid for a product/good/commodity

• Value

• Wealth

• Price

• Utility

accumulation of valuable economic resources that can be

measured in terms of either real goods or money value

• Utility

• Value

• Price

• Wealth

studies how the

individual parts of the economy make

decisions to allocate limited resources

(a)  

studies about the

functioning of the economy as a whole

It examines the economy through wide-lens.

(a)  

a mixture of

capitalist and Socialist economic systems.

• Capitalist Economy

• Socialist Economy

• Mixed Economy

• Communist Economy

Which of the below comes in Primary Economy

• Fishing

• Service Sector

• Dairy

• Manufacturing Industries