122k views
0 votes
A product that is not an object or something that is owned is called

1 Answer

3 votes

Answer:

non-economic good

Step-by-step explanation:

There are three main types of goods: Material and Non-Material Goods, Intermediate Goods and Final Goods.

The first type is further divided into two: Economic and Non-Economic Goods. Those goods which are not objects and cannot be owned are considered "Non-Economic Goods." They come from nature and are available everywhere; thus, they are regarded "free." Examples of these goods are: air, river, sunshine, etc. They only become an economic good once they're further processed or collected to be sold. For example, when water is purified, it becomes an economic good.

User Manjunath Bilwar
by
7.0k points