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 ?
I said 'excuse me, I don't want you to take this the wrong way but I just felt really awkward at the table and thought it would have been nice if you said good evening to me when I said good evening to you'.
It was a really good evening, even though I ended up going to bed a little bit later than usual, and the money raised from the evening is going to the Injured Jockeys' Fund.
McCartney, who will perform on next week's X Factor finale, releases his multi-disc CD/DVD Good Evening New York City today.
The Good Evening Europe tour will start in the northern German city on December 2 and end at London s O2 Arena on December 22 -- 46 years to the day after the first Beatles Christmas gig in their hometown, Liverpool.
The deal will see the Universal-owned Mercury Records release McCartney's Good Evening New York - recorded in a New York baseball stadium earlier this year - in the UK.
Katie Mundy 26, joint owner of the coffee house, said: "We try to make it really good, really fresh and just a really good evening.
Landlady Kay Murdy said: "Mr Campbell remarked on how much of a good evening he had and this goes to show that the people of Blyth and the Isabella are a fine bunch of people.
Everyone had a very good evening and enjoyed the Moroccan feel that Nerys had managed to create in Penarth Athletic Club with great food and decoration," said Karen Jones, hospice fundraising manager.