Fundamental Concepts and Terminologies — Economics STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsFundamental Concepts and Terminologies2 Marks
Question
Give the physical meaning and example of physical and intangible goods.
✓
Answer
Physical Goods:
Normally the goods which is visible, measureable, touchable and exchange is possible then it is called Physical goods. E.g. Car, Home, $T.V.$ etc.
Intangible goods :
The goods which is invisible, do not have physical existence, can not be measure, untouchable and exchange is not possible then it is called intangible goods. E.g. education, medical consultancy, etc.
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