Check sibling questions
Economics
Chapter 1 Class 6 Economics - Introduction to Economics

What is the term used to describe the physical, tangible objects that can be seen and touched?

A. Services

B. Goods

C. Resources

D. Technology

 

Answer: 

Answer by Student

So, the correct option is  (B): Goods .

Detailed Explanation by Teachoo

Goods - Teachoo.png

Let’s understand the meaning of each term and why they are correct or incorrect.

  • Option (A) Services - Services are intangible activities that cannot be seen or touched. For example, teaching, banking, hairdressing, etc. So, this is incorrect .

  • Option (B) Goods - Goods are physical, tangible objects that can be seen and touched. For example, bread, shirt, pen, ball, etc. So, this is correct .

  • Option (C) Resources - Resources are the inputs or factors that are used to produce goods and services. For example, land, labor, capital, etc. So, this is incorrect .

  • Option (D) Technology - Technology is the knowledge and skills used to produce goods and services. For example, machines, tools, methods, etc. So, this is incorrect .

Thus, option (B) is correct .

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 13 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.