9. Deals in goods and services
In business there has to be dealings in goods and service.
•Goods may be divided into following two categories :
• Consumer goods : Goods which are used by final consumer for consumption are called consumer goods e.g. T.V., Soaps, etc.
•Producer goods : Goods used by producer for further production are called producers goods e.g. Machinery, equipment, etc. Services are intangible but can be exchanged for value like providing transport, warehousing and insurance services, etc.