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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 ?
amp;nbsp;According to Fawcett, it will be trying to have to say goodbye to the entire cast and the show after next Saturday's installment.
Goodbye tee-shirts bearing the odd slogan, 'Rockham Air' and 'Wake up with Wogan'.
The Long Goodbye is] a secular ceremony, one that memorializes the mother's best aspects, her daughter's effort to be present throughout her decline and the terrible, common burden of being the person who continues to live.
Saying goodbye to the geography of a place is the easiest part of leaving; saying goodbye to people is the hardest.
Goodbye, viewing Eugene walking by the windows on a sunny day.
This is the premise behind Sumie Kawakami's absorbing and beautifully laid-out book of non-fiction stories, Goodbye Madame Butterfly.
Goodbye to the peg Right outside the door, Goodbye to the cloakroom It's time - I must withdraw.
THANKS to New Labour in London, Wales has said goodbye to two great Welsh regiments for one, also Wales will be saying goodbye to four individual Welsh police forces for one.
But as I traced the cross I remembered other times I had touched this friend--the handshake at our meeting, an embrace at the sign of peace, a final goodbye the last time I saw him.
Goodbye Rufus and Ditzy, Goodbye Don Dove, Goodbye Tim Early,
Say goodbye to three spreadsheets, two Word documents, and ten pictures, all sent as separate files.
One of the most exciting finishes of the day came in the final race at Sandown, as Brief Goodbye burst to the front a furlong out and was matched around the 1.