1. Goods: Goods refer to tangible objects that can be touched or physically measured.
These are products that are produced and sold in the marketplace, such as clothes,
food, toys, and electronic devices.
2. Services: Services are intangible activities or tasks that are performed to fulfill a need
or want. They are actions provided by people, businesses, or governments, like
haircuts, education, healthcare, or transportation.
3. Producers: Producers are individuals, businesses, or organizations that create or
manufacture goods and provide services. They are responsible for bringing products
and services to the market.
4. Consumers: Consumers are individuals or households who purchase and use goods
and services to meet their needs and wants. They play a crucial role in the economy
by creating demand for products and services.
5. Recycle: Recycling is the process of converting waste materials into reusable
materials. It involves collecting, processing, and transforming used items into new
products. This helps conserve resources and reduce waste.