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 periodicals archive ?
The good night sleep promise became a "Guests who wish to claim their money back are directed to contact the guest relations team through an online form."
"She's got a load to give friends in the gay community." Sallyann, who has written 18 books, originally wrote Good Night Mummy Good Night Dad for her son when he became a dad.
Favilli and Cavallo launched their Kickstarter page just a month ago with the aim of of raising USD40,000 to print the first 1,000 copies of Good Night Stories for Rebel Girls.
as"It should have been a good night out but he has ended up in hospital with a bleed on the brain.
You can find it on www.mrmattress.co.uk/sleepdiary If you find a good night's sleep is eluding you, it may be interesting to see what you've been doing, what you've eaten, where you've slept on the days you sleep well and the days you don't.
Good Night is a new drink for better sleep which will relieve feelings of stress and support good sleep naturally.
New York (AirGuide Features - Inside Air Travel) Tue, Apr 1, 2014 - The last words from the cockpit of Malaysia Airlines flight MH370 were a standard "Good night Malaysian three seven zero", Malaysian authorities said, changing their account of the critical last communication from a more casual "All right, good night".
New York (USAsian Network Business & Industry News) Tue, Apr 1, 2014 - The last words from the cockpit of Malaysia Airlines flight MH370 were a standard "Good night Malaysian three seven zero", Malaysian authorities said, changing their account of the critical last communication from a more casual "All right, good night".
Still after a good night's sleep we'll be ready for the walk from Aberystwyth towards Machynlleth - getting close to North Wales now!
The campaign shows how too much drink can turn a good night into a tragedy with potentially lethal consequences.
You've got to have a good night - a good night, a good draw and decent conditions."
THE Duke of Edinburgh has spent another "good night" in hospital, Buckingham Palace said yesterday.