Goods and Services Terminology

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High Order Goods and Services
More expensive items bought less frequently and lasting longer - Durables and comparison goods
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Low Order Goods and Services
Goods which are cheap and available but do not last long. Needed regularly - Consumables, Convienience
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Specialist Goods and Services
These are rarer items only available in certain areas usually costing a lot of money but needed rarely
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Threshold
Minimum demand necessary to support a service
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Range
This refers to the distance people are willing to travel for a particular goods or service
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Sphere of Influence
The area from which people live who use a particular service
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Other cards in this set

Card 2

Front

Goods which are cheap and available but do not last long. Needed regularly - Consumables, Convienience

Back

Low Order Goods and Services

Card 3

Front

These are rarer items only available in certain areas usually costing a lot of money but needed rarely

Back

Preview of the back of card 3

Card 4

Front

Minimum demand necessary to support a service

Back

Preview of the back of card 4

Card 5

Front

This refers to the distance people are willing to travel for a particular goods or service

Back

Preview of the back of card 5
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