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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 ?
Following the recent demolition of garage buildings it is proposed to form surface level car parking and making good to hard standing surfaces in the areas adjacent the three tower blocks, know as great thornton street flats.
Detective Chief Inspector Edward Foster, from the force's homicide team, said: "Our investigation is making good progress and we have recovered a silver Volkswagen Golf, which we believe was used in the shooting.
LONDON -- Pakistan's teenage rights activist Malala Yousufzai, who was critically injured after being shot in the head by the Taliban, is stable and making good progress.
An effective profile, making good use of all functions which LinkedIn offers for free.
Chairman Sir Win Bischoff said: "The board is pleased that Antonio is making good progress and we are looking forward to his return at the end of the year.
Summary: Actress Mila Kunis has attended the 236th annual Marine Corps Ball, making good on a promise to Sgt Scott Moore of the 2nd Battalion, 2nd Marine Division.
Summary: DUBAI - Nakheel is making good progress in completing its restructuring, having reached the agreed threshold for its trade creditors and for having obtained agreements from almost 99 per cent of the financial institutions, Nakheel said in a statement on Wednesday.
Jamshedpur (Jharkhand), Apr 12 (ANI): Farmers of Jharkhand's kolavadiya village are making good profit out of sunflower cultivation.
I think that we are making good progress," Swedish Foreign Minister Carl Bildt, who headed the delegation of the EU, said at the press conference, assessing the meeting as good and productive.
Summary: Agriculture and Rural Development Minister Rachid Benaissa insisted Saturday, in Algiers, on making good use of the financial resources that will be mobilized within the framework of the performance contracts
A statement released by Watson's management said: "Further to his emergency operation last week, Russell came out of ITU (Intensive Therapy Unit) early yesterday and is making good progress in his recovery.
The three-year-old, who suffered horrific injuries when the structure slipped its moorings and took to the air with about 30 people inside at Chester-le-Street, is making good progress.