Question
What are the unique characteristics of goods?
Answer
a) Tangibility: Goods possess the characteristic of being physical and can be perceived through the sense of touch.
b) Visibility: Goods have the quality of being visible and can be observed with the naked eye.
c) Storability: Goods have the ability to be stored for future use or consumption, enabling them to be kept for extended periods.
d) Standardizability: Goods can be standardized, meaning they can be produced or manufactured according to set specifications and quality standards.
e) Transfer of ownership: Goods have the capability to change possession or ownership through various means, such as purchase, exchange, or transfer.
b) Visibility: Goods have the quality of being visible and can be observed with the naked eye.
c) Storability: Goods have the ability to be stored for future use or consumption, enabling them to be kept for extended periods.
d) Standardizability: Goods can be standardized, meaning they can be produced or manufactured according to set specifications and quality standards.
e) Transfer of ownership: Goods have the capability to change possession or ownership through various means, such as purchase, exchange, or transfer.
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