Economic Goods, Operators, and Mixed Economic Systems

Economic Goods

Finished Goods: These are products that consumers purchase to satisfy their needs.

• Free Goods: Abundant in nature (e.g., water, soil, air).
• Economic Goods: Limited in quantity, requiring financial sacrifice to obtain (e.g., oil, timber, gold).

Services and Assets

Services: Intangible assets (e.g., bartender services, healthcare, education).

Assets: Tangible products (e.g., tables, clothing, food).

Types of Produced Goods

• Goods Used in Production: Used to create finished products.
• Part of the Product: Consumed during production (e.g., furniture-making materials).
• Not Part of the Product: Used but not consumed (e.g., ovens, machines).

Consumer Goods

Consumer Goods: Finished products ready for consumption (e.g., clothing, televisions).

Goods Based on Durability

• Perishable Goods: Deteriorate quickly (e.g., tomatoes, lettuce, fish).
• Durable Goods: Do not deteriorate quickly (e.g., plastic bags, homes).
• Durable Goods (Consumed): Used in various applications (e.g., clothing, batteries).
• Nondurable Goods: Consumed in a single use (e.g., cigars, toilet paper).

Purchasing Habits

• Daily Purchases: Frequently bought items (e.g., bread).
• Urge Purchases: Bought due to unexpected needs (e.g., medicine, bandages).
• Impulse Buys: Bought on a whim (e.g., shoes, cakes, jewelry).
• Special Effort Purchases: Require dedication and are usually expensive (e.g., motorcycles, cars, consoles, PCs).

Economic Operators and Relationships

Economic operators are elements involved in economic activity.

• Company: A production unit transforming resources into finished products to meet needs.
• Family: A consumption unit, receiving goods and services from companies in exchange for labor (salary).
• Public Sector: The state, acting as both a buyer and supplier of goods and services.
• Foreign Sector: All foreign countries and their interactions.

Mixed Economic System

A mixed economic system is an intermediate between market and centralized systems, advocated by Keynes. It starts with a market economy but includes state intervention to reduce unemployment through increased public spending and tax incentives for investment and consumption.