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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 ?
For the purposes of clarity the programme referred to in the title of this article is Good Afternoon!; however, it had several other names in the course of its lifetime.
Good afternoon. I am Dave Bernard, Vice President--Taxes, Kimberly-Clark Corporation.
When you enter someone's home or shop, he or she will greet you, "You are welcome." Even on the hectic streets of Kampala, strangers nod to you with a "Good morning" or "Good afternoon."
Rain gave way to a good afternoon for play on Monday.
The latest in a long line of presidential spinners, Ari Fleischer, began a news conference on January 6, 2003, with a nice greeting: "Good afternoon and happy New Year to everybody." But his bonhomie didn't last more than a minute.
All in all it was a good afternoon. Welton Gaddy of The Interfaith Alliance, Brenda Girton-Mitchell of the National Council of Churches and I were able to address the serious flaws of the bills on the table.
Good afternoon. My name is Laddie Gatling and I am one of approximately 300,000 people in the United States living with multiple sclerosis.
The cards translate the following: hello, good morning, good afternoon, good night, thank you, you're welcome, goodbye, my name is, what is your name?, yes, and no.
When Jordan's King Hussein visited and the grandchildren were instructed in the proper greeting, it later became--to great family amusement--"Good afternoon, Your Royal Hiney." Then there was the time one of her twin granddaughters leaned over to the other in the middle of a production of "The Nutcracker" and said, "Say peepee," and the day a five-year-old grandson got in trouble at school for making "farting noises" with his hands.
'Good afternoon po, welcome to GenSan have a safe trip,' Albayalde greeted motorists after briefly inspecting their vehicles.
He added: "It was a good afternoon. It was three points and a clean sheet and it puts us closer to where we want to be.