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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 ?
Nir Sapir, owner of Good Heavens, which produces a range of premium drinking yoghurts and yoghurt pots, believes high-end newcomers are well positioned to take advantage of a growing trend towards premiumisation.
Good heavens, try to do the maths - traffic violations and accidents involve mostly natives.
And "skeptics," good heavens, they are a "pointed threat.
Good heavens, does lighting designer Steven Young earn his paycheck - particularly via a late-act battle for the soul between Jekyll and Hyde conducted by Kevin Bailey (who plays both roles) in a manner that Jim Carrey, a master of on-screen schizophrenic behavior, would applaud.
But good heavens they can get to be mighty boring too.
Good Heavens, I'm observing land stagnation and a poor mineral cycle going on right in my own front yard
Good heavens Barbara, for once you've got it right.