Types of Goods (Economics)
Created: March 15, 2023
Updated: August 10, 2023
Updated: August 10, 2023
In Economics, there are a few types of goods:
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Hedonistic Goods (for pleasure)
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Utilitarian Goods (for function)
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Geffen
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Normal
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Inferior
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Luxury goods
There’s also the famous:
- Veblen Good (A good in which demand increases as price increases)