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 ?
Last week Philip looked annoyed as he appeared to utter a four-letter rebuke to an RAF photographer during a photocall with Battle of Britain veterans, but he was in good humour and a mischievous mood during the trip to east London.
May I personally thank all concerned at the RVI's trauma section for their good humour, high levels of skill and dedication and their desire to help and then encourage us all to be aware of how fortunate we are to have such a resource available to us.
Emily Longley, a pretty young model from New Zealand, also smiles with hope and good humour in all her photographs, but Emily was murdered at the age of 17 by a murderously possessive boyfriend, fat rich kid, Elliot Turner.
The end of it all is a charity showcase and their devotion and good humour as they pass through the final ups and downs towards their particular baptism of fire, can be absorbing.