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 ?
This should be a lesson to teams that are prone to squandering millions of euros on good-for-nothing foreign coaches.
The bedroom tax is damaging families and damaging communities - and now it really has been shown to be a good-for-nothing government policy which has to be ditched.
Essentially, she played a mum who plainly loved her sons but couldn't quite get her head around the fact that they were lazy, good-for-nothing teenagers rather than angelic little schoolboys.
Washington, June 28 ( ANI ): Japanese artist Rokudenashiko, whose pseudonym translates to good-for-nothing kid, is disturbed by the stigma that surrounds the vagina.
One person who isn't happy is Dan's housemate Bob, who's been telling Dan that Kerry is a good-for-nothing sponger.
Now I stop those good-for-nothing ice dams before they start.
Valerian's father, even more outraged than Victor's mother, is convinced that Victor is a good-for-nothing prince and will only allow them to marry if Victor completes three challenges: tests of bravery, cleverness, and endurance.
I hear Rehab singer (and reformed druggie) Amy Winehouse is talking about having a baby with her good-for-nothing former husband Blake Fielder-Civil.