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 periodicals archive ?
When I took over on Good Afternoon I found that 40% of the audience were men, so I did resent the title women's Programme and the attitude that went with it.
And with Cowden slipping up, it has turned out to be a good afternoon for us.
Local handler Chris Allsopp put in a tremendous performance at Tuesday's Betfair Trainers' Championship meeting at Wimbledon and clearly has his kennel in great form so it would be no surprise to see him have a good afternoon.
Morning warm-up was first up for the Jentin Team though and Palmer posted the fastest time of the session - pointing towards a good afternoon.
It was a good afternoon for travelling clubs in Division Three South East as only Aberdare secured a home victory in their 28-16 success over Abercynon.
The Cobblers looked to have been on course for a good afternoon when Alex Dyer put his side ahead 10 minutes in as he crashed home Ryan Gilligan's cross.
Alex King, Lawrence Dallaglio, Eoin Reddan, James Haskell, Daniel Cipriani, Nick Adams and Mark van Gisbergen, who added eight conversions, also went over during a good afternoon for Wasps.
Local trainers enjoyed a good afternoon, with Steve Brookshaw sending out Talbot Lad to spring a 14-1 surprise in the Moore Scott Novices' Handi-cap Chase.
May 1 |12 - 1pm Official launch 1 - 2pm Good Afternoon session with Gwyn Vaughan Jones and Annette Bryn Parri PS5 includes coffee and cake For more information contact: |Theatr Harlech, Gwynedd www.
It could be a good afternoon for the rider, who has every chance of a double with Iridescence in the British Stallion Studs EBF/32Red.