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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 ?
'" PM Khan heads once' corrupt, good-for-nothing, utterly devious, and downright pathetic parliament Everything was hell and brimstone, when PM Khan was not PM.
I HAD to respond to the lady who has let her daughter's good-for-nothing boyfriend move into their house (Monday, July 23).
Those good-for-nothing idiots who think it is right to throw abuse in people's faces should have it done to them - and see how they like it.
Good-for-nothing economists keep saying those reforms make sense.
A father continually laments to his rabbi about how his son is a good-for-nothing with no ambition who only drinks and parties.
We commend the Kurdish Peshmerga for opposing Daesh lunatics tooth and nail and for emerging victorious on various fronts against these good-for-nothing militants hell bent on destroying the world.
Her mum Dawn (Elizabeth Berrington, pictured) is hallucinating in hospital with a threatened miscarriage, while her good-for-nothing boyfriend is still down the nick answering questions.
This should be a lesson to teams that are prone to squandering millions of euros on good-for-nothing foreign coaches.