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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 ?
Detective Chief Inspector Edward Foster, from the force's homicide team, said: "Our investigation is making good progress and we have recovered a silver Volkswagen Golf, which we believe was used in the shooting.
Pruna performed a physical examination and an ultrasound which showed Messi was "making good progress".
Quoted in the Liverpool Echo, he said: "We are making good progress.
The interim dividend was held at 3.55p a share and chief executive David Nicol said Brewin Dolphin was making good progress in its strategy to grow funds under management.
LONDON -- Pakistan's teenage rights activist Malala Yousufzai, who was critically injured after being shot in the head by the Taliban, is stable and making good progress.
An effective profile, making good use of all functions which LinkedIn offers for free.
LLOYDS boss Antonio Horta-Osorio is "making good progress" in his recovery from illness and should return at the end of the year, the bank said yesterday.
Summary: Actress Mila Kunis has attended the 236th annual Marine Corps Ball, making good on a promise to Sgt Scott Moore of the 2nd Battalion, 2nd Marine Division.
Summary: DUBAI - Nakheel is making good progress in completing its restructuring, having reached the agreed threshold for its trade creditors and for having obtained agreements from almost 99 per cent of the financial institutions, Nakheel said in a statement on Wednesday.
Jamshedpur (Jharkhand), Apr 12 (ANI): Farmers of Jharkhand's kolavadiya village are making good profit out of sunflower cultivation.
"I think that we are making good progress," Swedish Foreign Minister Carl Bildt, who headed the delegation of the EU, said at the press conference, assessing the meeting as good and productive.
Schlieman for his "Making Good!" article in the December '08 issue.

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