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.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in classic literature ?
And who is best able to do good to his friends and evil to his enemies in time of sickness?
And in what sort of actions or with a view to what result is the just man most able to do harm to his enemy and good to his friends?
SOCRATES: Then if they are not given by nature, neither are the good by nature good?
But there is a government of another sort, in which men govern those who are their equals in rank, and freemen, which we call a political government, in which men learn to command by first submitting to obey, as a good general of horse, or a commander-in-chief, must acquire a knowledge of their duty by having been long under the command of another, and the like in every appointment in the army: for well is it said, no one knows how to command who has not himself been under command of another.
Accordingly Good, who, from long practice at sea, has a fine piercing note, groped his way down the passage and set to work.
(Rory was the horse that mostly went with me when a pair was ordered, and a good honest fellow he was.) We had our own driver, and as he was always considerate and gentle with us, we had a very pleasant day.
"Now," quoth he, "my bow and eke mine arrows are as good as shine; and moreover, I go to the shooting match at Nottingham Town, which same has been proclaimed by our good Sheriff of Nottinghamshire; there I will shoot with other stout yeomen, for a prize has been offered of a fine butt of ale."
If that activity displeases somebody, this is only because it does not agree with his limited understanding of what is good. Whether the preservation of my father's house in Moscow, or the glory of the Russian arms, or the prosperity of the Petersburg and other universities, or the freedom of Poland or the greatness of Russia, or the balance of power in Europe, or a certain kind of European culture called "progress" appear to me to be good or bad, I must admit that besides these things the action of every historic character has other more general purposes inaccessible to me.
I have promised my kind Fairy to become a good boy, and I want to keep my word.
So at last Everyman turns him to his Good Deeds--his Good Deeds, whom he had almost forgotten and who lies bound and in prison by reason of his sins.
He who leadeth his sheep to the greenest pasture, shall always be for me the best shepherd: so doth it accord with good sleep.
The Sheriff swore a full great oath, and said: "This man is the best archer that ever yet I saw." And he beckoned to him, and asked him: "How now, good fellow, what is your name, and in what country were you born?"