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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 ?
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.
com/inside-the-actors-studio/season-22/episode-3/videos/cuba-gooding-jr-opens-up-about-his-dad) Gooding Jr.
Gooding notes that the islands in the film don't represent real places, "but they're based on real areas at real times.
North Gooding Main Hydro LLC,might provide energy from April through October, said Idaho Power.
Gooding was employed on a shortterm contract over the Christmas period.
Theyve captured the consciousness of not just America, but the world," Gooding said in a 14-second video.
Dillon Gooding, 12, from Heaton, said: "I really enjoyed the service.
The image of Gooding started to trend on social network Twitter on Friday night.
A source told the Daily Star that Gooding thinks that it is an inappropriate present from one friend to another, especially when it is not a milestone birthday.
Gooding was a ball-boy when Penarth played home and literally grew up on the Recreation Ground.
Police are under orders to arrest Gooding Jr, 44, on sight.
A WARRANT has been issued for actor Cuba Gooding Jr after an early morning incident at a bar in New Orleans.