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 ?
The young man sat a few moments by the roadside, applauding himself greatly, and thinking with how clear a conscience he should meet the minister in his morning walk, nor shrink from the eye of good old Deacon Gookin.
Good old Deacon Gookin had arrived, and waited at the skirts of that venerable saint, his revered pastor.
The good old times, the good old times,' repeated the gentleman.
Look into Strutt's Costumes, and see what a Porter used to be, in any of the good old English reigns.
So, when you rejoice in your freedom, think that you owe it to that good old soul, and pay it back in kindness to his wife and children.
dans de bon vieux temps = in the good old days; corbeille = wedding presents from a bridegroom; trousseau = wedding outfit}
I missed my good old mother and the dear little ones; who almost tear me to pieces for sheer love.
He sat lifeless on the steps: the morning-star,* that is to say, the heavy wooden staff, headed with iron spikes, and which had nothing else in common with its sparkling brother in the sky, had glided from his hand; while his eyes were fixed with glassy stare on the moon, looking for the good old fellow of a spirit which still haunted it.
We had files of those good old family magazines which used to publish coloured lithographs of popular paintings, and I was allowed to use some of these.
My dear," said good old Benjamin, after we had thoroughly talked over my discomfiture on our return from the dinner-party, "judging by what you tell me of him, I don't fancy Mr.
And good old Geppetto took out a knife, peeled the three pears, and put the skins in a row on the table.
I saw the good old lady safe to her destination, and left her in the care of her relative, quietly happy at the prospect of seeing Laura again in a few months' time.