classification of goods

Goods are classified based on how they are used and their characteristics. Consumer goods are products purchased for personal use, like clothes or food, while industrial goods are used in manufacturing or business operations, like machinery or raw materials. They can also be classified as durable (lasting a long time, like appliances) or non-durable (used quickly, like groceries). Additionally, goods can be tangible, meaning they have a physical form, or intangible, like digital products or services. This classification helps businesses and consumers understand how goods are produced, marketed, and used.