Ms. peterson buys a blue cardigan sweater from a departmental store in tampa. which type of good is the sweater?

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8 December, 19:28

Ms. peterson buys a blue cardigan sweater from a departmental store in tampa. which type of good is the sweater?

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Hugo · Answer 1

A sweater is a material good. This type of good is tangible and is a material item such as clothes, shoes, cars, machinery etc. The sweater is is also a public good because anyone walking into the department store has had and still (given there is more stock) a chance to purchase the item. When a good is a public good, it is non-excludable and there is fair buying power.