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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 ?
Anyway, they're gone until next year, thank goodness.
Thank goodness she had orangey lips to give it a little pop of colour.
Vivienne Hunter tweeted: "Thank goodness no one was hurt."
Xx Sally Howells AWWWW fantastic news ~ heres to you Sergeant and your forever home x x x Gemma Louise Lang THANK goodness for all your help and his will to live...
"Thank goodness they have a father and I don't have to raise them alone," Contactmusic quoted her as telling Britain's OK!
MY WEEK Punting high Copper Bleu's Jewson win provided some much needed confidence just after the halfway point of the festival Punting low Poquelin ran a good race to finish runner-up in the Ryanair Chase, but he was my banker and all I can say is thank goodness I wasn't playing in running, as I would have done my dough big time What a man Barney Curley thanked everyone for attending the Galway Cheltenham Preview night - all in aid of DAFA - informing those in attendance that he would have a winner in the next 11 days, without naming the horse.
Thank goodness Merseyrail don''t depend on the city to keep the rail tracks free of ice.
Thank goodness, Lecita has a lawyer, who is going to the United Nations on her behalf on the grounds of Bahraini authorities flouting human rights.
THANK goodness JEFF BRAZIER is a decent chap with a good dollop of common sense.
Thank goodness Tennessee fans travel even in a rare bad year for the Lady Vols.