Question

    A bicycle is classified as which type of

    good?
    A Free good Correct Answer Incorrect Answer
    B Final good Correct Answer Incorrect Answer
    C Club good Correct Answer Incorrect Answer
    D Inferior good Correct Answer Incorrect Answer

    Solution

    A bicycle is considered a final good because it is a product ready for sale and directly used by consumers to satisfy their needs. Unlike intermediate goods, which are used in the production of other goods, final goods are consumed by the end user.

    Practice Next

    Relevant for Exams: