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 (B)
Fruits and vegetables are products that are made or processed.
Fruits and vegetables are products that are made or processed.
False (B)
Durable goods are products that consumers have to purchase often.
Durable goods are products that consumers have to purchase often.
False (B)
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.
Consumer goods include appliances, furniture, and automobiles.
Consumer goods include appliances, furniture, and automobiles.
Services are tangible items that can be sold or used.
Services are tangible items that can be sold or used.
Durable goods have a limited shelf life.
Durable goods have a limited shelf life.
Non-durable goods include food that must be refrigerated.
Non-durable goods include food that must be refrigerated.
Manicure/pedicure is an example of a tangible consumer good.
Manicure/pedicure is an example of a tangible consumer good.
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.
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.
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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.
