Goods & Services
Consumer vs. Capital Goods
- Consumer goods are the "final product." purchased by consumers to directly satisfy a need or want. Examples would be foods, beverages, video games, CDs, sport goods, etc.
- Capital goods add to the asset of an enterprise. Examples would be machinery and equipment, power generators, office equipment, etc. (Things that you will use to make something else.)
Going to the doctor.
You are receiving medical treatment, which is not an object.
Getting a haircut.
A haircut is not a good you can consume, but it is a service done by someone for you.
Firefighters supply safety, which is not a good, but a necessity.