Question
Which of the following is an external, material and
non-transferable good?Solution
External goods are classified as material and personal goods. Material goods are further classified as transferable (such as land, building, furniture etc) and nontransferable (such as degree certificate, driving license etc.) Personal goods are also classified as transferable (goodwill of business) and nontransferable (friendship, courage etc) Internal goods are nontransferable like personal qualities like ability, intelligence etc.)
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