Podcast
Questions and Answers
Consumer goods are often divided into two categories: Tangible goods and Intangible goods.
Consumer goods are often divided into two categories: Tangible goods and Intangible goods.
False
Fruits and vegetables are products that are made or processed.
Fruits and vegetables are products that are made or processed.
False
Durable goods are products that consumers have to purchase often.
Durable goods are products that consumers have to purchase often.
False
Non-durable goods are items with a limited shelf life and cannot be consumed easily.
Non-durable goods are items with a limited shelf life and cannot be consumed easily.
Signup and view all the answers
Consumer goods include appliances, furniture, and automobiles.
Consumer goods include appliances, furniture, and automobiles.
Signup and view all the answers
Services are tangible items that can be sold or used.
Services are tangible items that can be sold or used.
Signup and view all the answers
Durable goods have a limited shelf life.
Durable goods have a limited shelf life.
Signup and view all the answers
Non-durable goods include food that must be refrigerated.
Non-durable goods include food that must be refrigerated.
Signup and view all the answers
Manicure/pedicure is an example of a tangible consumer good.
Manicure/pedicure is an example of a tangible consumer good.
Signup and view all the answers
If you identify the type of people who live in your community, you should also identify the products they consume most.
If you identify the type of people who live in your community, you should also identify the products they consume most.
Signup and view all the answers
Study Notes
Categories of Consumer Goods
- Consumer goods are classified into two main categories: tangible and intangible goods.
Tangible Goods
- Examples of tangible goods include fruits, vegetables, appliances, furniture, and automobiles.
- Manicure/pedicure services are classified as tangible consumer goods due to the physical products involved.
Durable vs. Non-Durable Goods
- Durable goods refer to products that are purchased infrequently, as they last a long time.
- Non-durable goods are items with a limited shelf life, such as food products that typically require refrigeration.
Market Considerations
- Understanding the demographics of a community can help identify the most commonly consumed products among its residents.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Learn how to identify income opportunities by understanding the community's demographics, popular products, and services. Develop profitable business ideas to cater to the needs of the community, and keep a record of your business plan for future reference.
