Consumers, goods, and services are essential components of the economy.
Consumers: Persons who use goods or services to fulfill their wants and needs. When consumers purchase items, they contribute to the economy by creating demand.
Goods: Tangible products like shoes, cars, and food. Goods can be categorized as durable (lasting over three years) or non-durable (lasting less than six months).
Services: Intangible offerings like education or healthcare, essential for the functioning of society and the economy.
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