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What are economic goods? - Economics

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प्रश्न

What are economic goods?

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उत्तर

Economic goods are those goods that are scarce in relation to demand and require resources to produce.

They are limited in supply, command a price and are bought and sold in the market. 

Examples include food, clothing, cars, electronics and furniture.

Economic goods are man-made and involve the use of scarce resources for their production.

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पाठ 3: Basic Concepts of Economics - QUESTIONS [पृष्ठ ५०]

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जे. पी. गोयल आणि कौशल गोयल Economics [English] Class 9 ICSE
पाठ 3 Basic Concepts of Economics
QUESTIONS | Q 15. | पृष्ठ ५०
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