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Goods which have to be paid for are known as

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Economics WAEC 2013

Goods which have to be paid for are known as

  • physical goods
  • economic goods checkmark
  • free goods
  • intangible goods

The correct answer is: B

Explanation

An economic good is a consumable item that is useful to people but scarce in relation to its demand, so that human effort is required to obtain it. People work towards owning these goods because they are essential. Example include Food, clothing and housing.

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