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Understanding Goods and Services

Authored by Javneet Nanda

Business

8th Grade

Used 4+ times

Understanding Goods and Services
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are goods?

Actions performed for others

Tangible products that can be touched and used

Services provided by professionals

Digital transactions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service?

Buying a car

Watching a movie in a theater

Purchasing a mobile phone

Eating an apple

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Goods are different from services because goods are:

Intangible

Produced and consumed at the same time

Tangible and can be stored

Always free

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is NOT a characteristic of services?

Cannot be touched

Can be stored for later use

Produced and consumed at the same time

Requires human effort

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of good is a smartphone?

Durable good

Non-durable good

Perishable good

Digital service

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a non-durable good?

A refrigerator

A bottle of milk

A laptop

A washing machine

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Services are:

Physical objects

Stored for future use

Actions or tasks performed for others

Manufactured in factories

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