Types of Goods (Economics)

Created: March 15, 2023
Updated: August 10, 2023

In Economics, there are a few types of goods:

  • Hedonistic Goods (for pleasure)

  • Utilitarian Goods (for function)

  • Geffen

  • Normal

  • Inferior

  • Luxury goods

There’s also the famous:

  • Veblen Good (A good in which demand increases as price increases)