good


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good

or

commodity

an economic PRODUCT which is produced to meet some personal or business demand. Goods which are purchased by individuals are called consumer goods or final goods, while goods purchased by businesses are referred to variously as producer goods, capital goods, industrial goods or intermediate goods.

Some consumer goods (nondurables), such as bread and toothpaste, are used up immediately or within days of purchase, while others, referred to as consumer durables, such as cars, washing machines and televisions, are ‘consumed’ over a time scale often running into several years and are often considered to constitute part of an individual's personal assets or wealth.

Producer goods are items which are purchased by manufacturers, etc. to be used as factor inputs in producing other goods or services. They too may be used up in the short term (for example nuts and bolts, engines, etc.) as the production cycle repeats itself, or they may constitute the firm's stock of longer-lasting (durable) fixed capital assets such as plants, equipment and machinery The provision of goods (for example, a motor car, a perfume etc.) involve a number of characteristics which set them apart from the provision of a SERVICE (for example, window cleaning), in particular tangibility - the ability of a customer to see, touch, taste or smell the good, and separability - the fact that goods are typically produced and consumed at different points in time and thus can be stored. See MARKETING.

References in classic literature ?
It is only another name for trying to be good, and the story may help us, for though we do want to be good, it's hard work and we forget, and don't do our best.
This wise speech of good little Merrylegs, which we knew was quite true, cooled us all down, especially Sir Oliver, who was dearly fond of his master; and to turn the subject I said, "Can any one tell me the use of blinkers?
It is going to be a good year for apples and hay so you and John will be glad and we can pay a little more morgage.
As to governing them well," said Sancho, "there's no need of charging me to do that, for I'm kind-hearted by nature, and full of compassion for the poor; there's no stealing the loaf from him who kneads and bakes;' and by my faith it won't do to throw false dice with me; I am an old dog, and I know all about 'tus, tus;' I can be wide-awake if need be, and I don't let clouds come before my eyes, for I know where the shoe pinches me; I say so, because with me the good will have support and protection, and the bad neither footing nor access.
Then Reynold turned him about to the crowd and shouted: "Hark ye, good people, I have entered the Sheriff's service, and need not the yoke of steers for prize.
I thank you all, my good friends and neighbours," Arthur said, "for the good opinion of me, and the kind feelings towards me which Mr.
The desire of society for the statesman's advice is taken for granted, Plato in the Republic says that a good constitution is only possible when the ruler does not want to rule; where men contend for power, where they have not learnt to distinguish between the art of getting hold of the helm of state and the art of steering, which alone is statesmanship, true politics is impossible.
Each returns to his degree in the scale of good society, porcelain remains porcelain, and earthen earthen.
Taking the hook again, Good scratched all round the crack where we felt the air coming up.
Why, boy, thy mother's milk is yet scarce dry upon thy lips, and yet thou pratest of standing up with good stout men at Nottingham butts, thou who art scarce able to draw one string of a two-stone bow.
Lydgate ought not to be hurried away without being allowed to accept another cup of tea: Miss Winifred had abundance of good tea in the pot.
It 's expensive, I know, but it 's remarkably good, and music is such a treat to me.