JAMB - Commerce (2025 - No. 1)
Goods are usually classified into
saleable and non saleable goods
inferior and superior goods
luxurious and essential goods
producer and consumer goods
Maelezo
In economics, goods are usually classified into producer goods and consumer goods. Producer goods, also known as capital goods,
are used in the production of either more complex capital goods or consumer goods. Consumer goods are the end result of
production and manufacturing and are what a consumer will see on the store shelf. Other classifications like saleable and non-
saleable, inferior and superior, luxurious and essential are not standard economic classifications of goods.
are used in the production of either more complex capital goods or consumer goods. Consumer goods are the end result of
production and manufacturing and are what a consumer will see on the store shelf. Other classifications like saleable and non-
saleable, inferior and superior, luxurious and essential are not standard economic classifications of goods.