What is the relationship between goods, services, and consumers?


Goods and Services are two forms of products used by consumers.

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Consumer theory

In microeconomics, the theory of consumer choice relates preferences (for the consumption of both goods and services) to consumption expenditures; ultimately, this relationship between preferences and consumption expenditures is used to relate preferences to consumer demand curves. The link between personal preferences, consumption, and the demand curve is one of the most closely studied relations in economics. Consumer choice theory is a way of analyzing how consumers may achieve equilibrium between preferences and expenditures by maximizing utility as subject to consumer budget constraints.]citation needed[

Preferences are the desires by each individual for the consumption of goods and services that translate into choices based on income or wealth for purchases of goods and services to be combined with the consumer's time to define consumption activities. Consumption is separated from production, logically, because two different consumers are involved. In the first case consumption is by the primary individual; in the second case, a producer might make something that he would not consume himself. Therefore, different motivations and abilities are involved. The models that make up consumer theory are used to represent prospectively observable demand patterns for an individual buyer on the hypothesis of constrained optimization. Prominent variables used to explain the rate at which the good is purchased (demanded) are the price per unit of that good, prices of related goods, and wealth of the consumer.


Cooperative federalism is a school of thought in the field of cooperative economics. Historically, its proponents have included J.T.W. Mitchell, Charles Gide, Paul Lambert, and Beatrice Webb (who coined the term in her book "The Co-operative Movement in Great Britain"). Many cooperative federations do not endorse Co-operative Federalism.

Cooperative federalism has been one side in the historical debate in Co-operative economics between co-operative federalism and cooperative Individualism. In an Owenite Village of Co-operation or a commune, the residents would be both the producers and consumers of its products. However, for a cooperative, the producers and consumers of its products become two different groups of people, and thus, there are two different sets of people who could be defined as its 'users'. As a result, we can define two different modes of cooperative organisation: consumers' cooperatives, in which the consumers of a cooperatives goods and services are defined as its users (including food cooperatives, credit unions, etc.), and producer cooperatives, in which the producers of a co-operative's goods and services are defined as its users (which includes worker cooperatives, agricultural producer cooperatives, for example), as advocated by cooperative individualism.

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Human Interest

In journalism, a human interest story is a feature story that discusses a person or people in an emotional way. It presents people and their problems, concerns, or achievements in a way that brings about interest, sympathy or motivation in the reader or viewer.

Human interest stories may be "the story behind the story" about an event, organization, or otherwise faceless historical happening, such as about the life of an individual soldier during wartime, an interview with a survivor of a natural disaster, a random act of kindness or profile of someone known for a career achievement.


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