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 ?
An attorney for Gooding, Mark Heller, said in a statement Thursday that he still expects his client to be exonerated.
But yes when I was in high school -- I was f 16 years old -- Cuba Gooding Jr.
The snippet, obtained and published by TMZ, appears to show the actor at Manhattan's Magic Hour Rooftop Bar & Lounge putting his hand on or near the woman's leg and breast while they sat with Gooding's girlfriend, Claudine De Niro, between them.
"Get well, Big Papi," Gooding said while passing a phalanx of cameras and reporters in the courthouse lobby.
Mr Fowler was coming out of Vets4Pets when he recognised Gooding and prosecutors said there had been "background difficulties" between them.
The band GOODING, which includes Gooding (Guitarist/Singer/band namesake), Erin O'Neill (guitar/vocals), Jesse Reichenberger (drums) and Billy Driver (bass), blasts a majestic, soul-stirring indie rock with soaring harmonies and blazing guitars.
Caption: Roger Moore, co-sponsor of Wayne Gooding's Award
Oscar-winner Gooding Jr plays fast-talking lawyer Billy Flynn in the musical, which is returning to the capital after a five-year absence, and said he had struggled through previews ahead of the official opening.
She is currently being held without bail at the Gooding County Jail.
Gooding Jr's publicist confirmed the death of the 72-year-old, who was the lead singer of soul group The Main Ingredient and had a brief solo career with Motown Records.
Gooding notes that the islands in the film don't represent real places, "but they're based on real areas at real times.
Hero Tim Dobson, wearing the TV comic character's long leather coat and fedora, tackled "out-of-control" Ryan Gooding as the teenager waved a large kitchen knife in a street.