What Are the 4 Types or Categories of Consumer Goods?

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Solution

The four categories of consumer goods are as follows:

Convenience goods

Shopping goods

Unsought goods

Specialty goods

Also read:

Difference Between Final Goods and Intermediate Goods

Final Goods

Intermediate Goods

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Similar questions

A consumer wants to consume two goods. The prices of the two goods are Rs 4 and Rs 5 respectively. The consumer’s income is Rs 20.

(i) Write down the equation of the budget line.

(ii) How much of good 1 can the consumer consume if she spends her entire income on that good?

(iii) How much of good 2 can she consumed if she spends her entire income on that good?

(iv) What is the slope of the budget line?

Questions 5, 6 and 7 are related to question 4.

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