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 ?
Thank goodness Merseyrail don''t depend on the city to keep the rail tracks free of ice.
Shame it has to come to this but thank goodness we have people like Mr Al Mutawa, prepared to stand up for what is right.
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.
Thank goodness his behaviour has been caught on camera and brought to light for everyone to see.
Two albums on from the Greatest Hits release that people assumed signalled their end, Girls Aloud show no signs of slowing down or going stale, and thank goodness for that.
Thank goodness for the real-life brothers, author Henry Fielding (Ian McDiarmid) and his blind sibling John (Iain Glen), who become the city's first policemen.
It was fitting so many of her friends and family were there and, thank goodness, it wasnt sullied by the presence of the "other woman".
Thank goodness for Father John Cusick's interview, "If you rebuild it, they will come.
More importantly, thank goodness they were never alive to use text messaging.
Thank goodness overcoming human blindness has been one of God's specialities for a very long time now.