Introduction to Economic Goods and Services

Flashcards covering basic economic concepts.

What are economic goods classified as by economists?

Economic goods are classified by economists as economic goods.

What are the different sectors that economic goods and services can be divided into?

Households, the business sector, and government.

What two categories can economic goods and services be divided into?

Final (consumer) goods and services and capital (intermediate) goods and services.

What do final goods and services include?

All manufactured goods and services.