AS Economics (9708) | Classification of Goods and Services | Lecture 7

Welcome back to our AS Economics series! In Lecture 7, we dive into the Classification of Goods and Services—a fundamental concept that shapes economic decision-making. 🏷️💡

🔹 What You’ll Learn:
✅ Types of Goods: Private, Public, Quasi-Public, and Merit/Demerit Goods
✅ Key Characteristics: Excludability, Rivalry, and the Free-Rider Problem
✅ Real-World Examples: How governments and markets interact with different goods
✅ Exam Tips: Common questions & how to tackle them

Whether you're an A-Level student or just curious about economics, this lecture will clarify how goods and services are categorized—and why it matters! 📊

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