Types of goods

Free goods

• what are they?

• German translation?

• example?

= items of consumption that are useful to people, are in abundant supply and need no conscious effort to obtain (keine große Mühe nötig, es zu erwerben)

are for free

=> Freie Güter

e.g. air, sunlight, inventions, programs, web pages

Economic goods

• what are they?

• german translation

= supply is limited and you have to pay to obtain them

=> Wirtschaftsgüter

Intangible goods (sub group of economic goods)

• German translation

• example

=> Immaterielle Güter

→ services (consulting, teaching, insurance, childcare), financial services

Physical goods (sub group of economic goods)

• what sub groups does it have

• German translations

=> Materielle Güter

a) Capital goods

=> Investitionsgüter

= not bought by households for final consumption, bought by companies as raw materials or plant (Werke) and machinery to produce other goods and services

→ e.g. iron and steel, mechanical engineering, chemical industry

b) Consumer goods

=> Konsumgüter

= bought by customers or households for final consumption

→ e.g. shoes, cars, clothes, furniture, electronic devices

What are the sub groups of consumer goods?

• explanation

• German translation

• example

1. Consumer durables (Gebrauchsgüter)

   = consumer goods with a long average life

   → e.g. shoes, cars, clothes, furniture, electronic devices

2. Non-durable goods (Verbrauchsgüter)

   = need replacement after being used

   → e.g. food, hygiene products