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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 ?
Ronald Kahn, co-founder of Ronald McDonald House of Cleveland, said 'Majestic Steel USA and the Leebow family represent enterprise and entrepreneurship in our community...How they got there is through values, goodness, and a catchall way of empowering employees to do good.'
In her article on "Intrinsic Goodness," Antara Haldar writes about "good old-fashioned values: pride and shame and guilt and loyalty," which psychologists call "the moral machinery."
Robert Graham, managing director of Graham's, said:"Cottage cheese as a new addition to our Goodness range balances perfectly with all our latest high protein dairy products due to their natural, fresh ingredients created by a Scottish family business.
"See the goodness in everyone and see how we can we be of service to others.
Martin Luther King Junior had once said, 'There is within human nature an amazing potential for goodness.' If we are in any doubt as to whether all of us have natural fountain of goodness within ourselves then we must see the smile of an infant.
My reading led me to a new awareness of God's presence as I offered Him praise for His goodness to me.
Some even suggest that the convertibility of the transcendentals with being implies the unity, truth, and goodness of esse divinum.
The goodness most of us desire is not just a Christmas gesture with a three-day shelf life.
Tagle said people should try to emulate the goodness that Jesus Christ has done for men, especially those neglected by society.
GOODNESS is a humbling and encouraging aspect of A Way Out's working environment - basic qualities of kindness, decency and generosity.
DeYoung presents glory as 'goodness displayed.' She the makes the case for the potential goodness of glory (ala, Aquinas).