Consumer Goods and Services Are Generally Classified into Four Specific

question 95

Essay

Consumer goods and services are generally classified into four specific categories. What are the four categories, and how do they differ? Illustrate by giving examples of products that are often included in each category.

---

Definitions:

William Howard Taft

The 27th President of the United States (1909-1913) known for his conservative policies; later served as the 10th Chief Justice of the United States, making him the only person to have held both offices.

Theodore Roosevelt

The 26th President of the United States, known for his progressive policies, leadership of the Rough Riders, and role in negotiating the end of the Russo-Japanese War.

Republican Party

A major political party in the United States, also known as the GOP (Grand Old Party), with a conservative ideology focusing on limited government, free markets, and traditional values.

New Freedom

A term used to describe the domestic policy agenda of U.S. President Woodrow Wilson, which aimed at achieving economic reform by dismantling monopolies and restoring competition in the marketplace.