goods and services
outcome of human efforts to meet the wants and needs of people
service
economic product that directly satisfies wants without producing a lasting asset
gifts in kind
donations of goods and services instead of money
goods
tangible or intangible thing, except a service, that satisfies human wants and provides utility
no frills
product or service with non-essential features removed to minimize cost
loss leader
product sold below cost to stimulate other, more profitable sales
demerit good
good or service whose consumption is considered socially undesirable due to perceived negative effects on the consumers