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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 ?
No one swore, no one chanted vile racist songs, no one used the floor as a toilet, and no one (this one a clincher) seemed to want to start a fight with anyone else.There were women and girls there, and both Blues fans and Scarlets fans stood together good-humouredly. Could this Elysian idyll be real?
Some laughed, and answered good-humouredly. Miss Bates said a great deal; Mrs.
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.
(For a more detailed analysis of this portion of the notebook corpus, the reader should consult Dolzani's lucid introduction to his edition of the recently published The Third Book: Notebooks of Northrop Frye 1964-1972.) 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).
"My wife has very interesting ideas," said Bill good-humouredly. "She wanted a bridge over the big fish pond which we built 20 years ago, and you might think you would want the bridge to span the narrowest part of the pond - but not my wife!"
The diminutive songbird literally stumbles on to the stage, uncertainty in her step, then saves face by good-humouredly reprising the entrance.