Which of the following statements is true of goods? select one: a. the demand for goods is more difficult to predict than the demand for services. b. goods-producing industries rely on machines and hard technology to perform work. c. durable goods are those that are no longer useful once they are used. d. goods-producing employees require stronger behavioral skills than physical skills.

b. Goods-producing industries rely on machines and hard technology to perform work.

Explanation:

Goods, in terms of economics, refers to the materials which provide satisfaction to the wants and requirements of the humans. Also, they provide utility in return for purchasing it. Among the statements mentioned in the question, statement (b) is true about goods. Goods are produced in the industries with the help of machines and extensive technology. All the other options are not true about goods.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

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