A. Commodities that is available according to their demand
B. Commodities that is available more as compared to demand
C. all commodities that are limited in quantity as compared to their demand
D. None of the above
✅ The correct answer is option C.
Economic goods are all commodities that are limited in quantity as compared to their demand. An economic good is a good or service that has a benefit (utility) to society. Also, economic goods have a degree of scarcity and therefore an opportunity cost.
Economic goods are all commodities that are limited in quantity as compared to their demand. An economic good is a good or service that has a benefit (utility) to society. Also, economic goods have a degree of scarcity and therefore an opportunity cost.