Question

Consider the following statements:
Statement 1: Goods are those things which are tangible or intangible.
Statement 2: They satisfy human wants.
Which of the following are true?

• A. Only 1
• B. Only 2
• C. None
• D. Both

Answer 1

The correct option is B Only 2

Goods are tangible things which imply they can be touched and seen. The intangible things satisfying human wants are termed as services. Goods also help in the satisfaction of human wants or needs.

Thus, the answer is B.