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    Question

    Which of the following is an external, material and

    non-transferable good?
    A Skill of a doctor Correct Answer Incorrect Answer
    B Conduct certificate of student Correct Answer Incorrect Answer
    C Good will of business Correct Answer Incorrect Answer
    D Table Correct Answer Incorrect Answer

    Solution

    External goods are classified as material and personal goods. Material goods are further classified as transferable (such as land, building, furniture etc) and nontransferable (such as degree certificate, driving license etc.) Personal goods are also classified as transferable (goodwill of business) and nontransferable (friendship, courage etc) Internal goods are nontransferable like personal qualities like ability, intelligence etc.)

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