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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.

References in periodicals archive ?
Ask questions, bargain good-humouredly, shoot some pictures, and get to know a few people along the way.
But the internationals good-humouredly laughed off the advances.
Though he was with a big crowd of friends, Big Jack patiently signed countless autographs and shirts and good-humouredly had his picture taken with several fans.
Frye's ogdoad, which he sometimes also referred to good-humouredly as his "Great Doodle," thus served as an heuristic scheme to facilitate the creative play of his good-humoured imagination, and the second half of Dolzani's essay is accordingly a "tentative response to the view of Frye's schematic imagination as totalizing" (26).
The diminutive songbird literally stumbles on to the stage, uncertainty in her step, then saves face by good-humouredly reprising the entrance.
Assia Djebar ('Affrontare il nuovo secolo' 27-35) good-humouredly questions the very basis of the millennial occasion for the conference, which is premised on the Christian calendar (and in any case presumes that the Almighty uses decimal notation), and refreshingly extends her audience's imaginary by illustrating profound consonances between St Augustine of Hippo and Ibn Khaldoun, across the thousand years that separated them.