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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.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
How great to get that from him!" While Moore is often asked about the classic Sixties series, so too is Sanjeev about The Kumars and Goodness Gracious Me, which recently returned for a special one-off.
"Goodness Gracious is quite easily my favourite song from Halcyon Days, I'm so happy that it's the next single!
Goodness Gracious is a powerful book to keep in your kitchen, office, coffee table or anywhere you'd like to share reminders of joy, inspiration and encourage healthy eating.
Pickoftheday Arena: Produced by George Martin (9.00pm) Profile of the record producer, who worked on songs including Nellie the Elephant and Goodness Gracious Me in the early part of his career.
Q I'M trying to track down two records - Peter Sellers and Sophia Loren singing Goodness Gracious Me and Max Bygraves' I'm A Pink Toothbrush.
Goodness gracious, I thought, as I watched in horror.
At a celebration dinner at the Natural History Museum last month, which was attended by celebrities Dr Raj Persaud, Martin Bashir, Gargy Patel and Nina Wadia of Goodness Gracious Me, steel baron Lakshmi Mittal was recognised as Britain's richest Asian with a personal fortune worth 1.2 billion [pounds sterling].
Goodness gracious we say though gracious isn't the word
BLUNDER blond Boris Johnson's excruciating Goodness Gracious Me "clinky" Indian mimicry in a Bristol gurdwara, triggering a dressing down from a Brit Sikh for droning on about booze, fuels speculation the woeful Foreign Secretary, left, would be sacked if the Cons won again.
GOODNESS GRACIOUS ME - INDIA SPECIAL (BBC2, 10pm) IT'S the BBC's India season, so what better excuse to reunite the cast of this ground-breaking British Asian sketch show for another special?
She and Sanjeev will be creating more laughs together, however, as they collaborate on a Goodness Gracious Me special to be shown in September, during the BBC's India season.