2. Distinguish between economic goods and free goods.

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01-08-2024
Business

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2. Distinguish between economic goods and free goods.

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-08-01T10:15:35-04:00

Final answer:

Economic goods require work or payment for acquisition, while free goods are available without cost due to abundance.

Explanation:

Economic goods are items that are not freely available due to their scarcity, leading to people needing to work or pay for them as they are bought, sold, and traded in the market. Free goods, on the other hand, are abundant and available in quantities that can satisfy all demand, making them free to anyone who wants them with no market price.

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