Business- Goods and Services Definitions 0.0 / 5 ? Business Studiesgoods and servicesGCSEWJEC Created by: EllN1Created on: 22-09-16 19:49 Need what the customer requires in order to survive 1 of 10 Wants isn't essential but what the customer would like 2 of 10 Goods Physical products that can be touched 3 of 10 Services Non-physical things that can be bought 4 of 10 Consumer goods Items bought and used by individuals 5 of 10 Capital goods Physical goods used to produce other producer and consumer goods 6 of 10 Durable goods Goods that can be used again and again 7 of 10 Non-durable goods Goods that can only be used once 8 of 10 Producer goods Goods which are sold by one business to another and which are then used to produce other goods and services 9 of 10 Efficient production Producing the maximum amount of output at the least possible costs and waste resources 10 of 10
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