Write a definition for each of the following in your own words.

Cost of living -

Goods -

Services -

Infrastructure -

Employment -

1 answer

Cost of living - The cost of living refers to the amount of money required to cover the basic necessities of life such as food, housing, and healthcare in a particular location or region.

Goods - Goods are physical items that are produced or manufactured for consumption or use, such as food, clothing, and electronics.

Services - Services are intangible experiences or actions that are provided for a fee, such as a haircut, a medical check-up, or a legal consultation.

Infrastructure - Infrastructure includes the basic physical and organizational structures and facilities that are necessary for the operation and functioning of a society or organization, such as roads, bridges, buildings, and communication systems.

Employment - Employment refers to the provision of work or occupation in exchange for payment or other forms of compensation. It includes both full-time and part-time work, as well as self-employment.