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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 ?
"Thanks to everyone who supported us - and to Mr Paxman for his good humour, on and off the set," said Mr Guttenplan last night.
That's what he needs right now." He added that Hammond's recovery would also be aided by good humour over the next few weeks.
We demonstrated the good humoured way to celebrate momentous footballing occasions when the spirit of the World Cup brought a special magic to Teesside and put a smile on the faces of everyone, from pubs to workplaces.
The person I feel most sorry for in this whole debacle is John's dance partner, Kristina, who has behaved with good humour and dignity throughout the show.
When Ibrahim arrived at Paddington Green police station, at about 2.20pm, he seemed to be in "good humour", the jury was told by Sergeant Richard Watkinson said.
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.
Spokesman Alan Robinson said today: 'Dave is taking his illness with typical good humour, and with a positive demeanour.
Laid-back Caribbean good humour is portrayed by a makeshift physic garden full of aphrodisiacs and remedies for impotence, all carefully labelled and guarded by scarecrows, round a bright blue potting shed riddled with keyholes to show stoned garden gnomes snoozing in wheelbarrows and suchlike goings on inside [Jardin cokcain, Tom Thumb's garden party by P.-A.
He survived with a measure of good humour a knife attack by a mental patient in his home.
A spokesman for Reagan, who may face hip replacement, said: "He is in good humour and in a stable condition."
Katie Piper faces her future with hope, good humour and features that had to be completely rebuilt after an ex-boyfriend arranged to have acid thrown in her face.