Which one of the following is a necessary good?

Which one of the following is a psychological state of experience?

All tangible things that satisfy people's wants and desires are known as

The goods whose supply is always limited when compared to its demand and have a price are known as

Which one of the following can be satisfied by the consumption of goods and services?

Which one of the following is a consumer good?

An example for private good is

The goods which are used in the production of other commodities and which can satisfy human wants indirectly are known as

Assertion- Classification of the goods may change depending upon the place, climate, level of income and haits of people.

Reason- Telephone was a luxury in olden days but later it was a comfort. At present Telephone became a necessary good.       

Deriving satisfaction by the use of goods and services means