good

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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.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in classic literature ?
I was relieved when she shook me by the hand, with her well remembered painful grip.
"Did pretty well out West, didn't you?" asked the policeman.
"Well, if there were an outsider, he may be traced and taken.
`They seemed distressed to find me, my arm against the overturned pillar, peering down the well. Apparently it was considered bad form to remark these apertures; for when I pointed to this one, and tried to frame a question about it in their tongue, they were still more visibly distressed and turned away.
She didn't know that I knew you at Tunbridge Wells; but I wrote back at once, and I said: 'Mr.
Yet perchance the first who came to this well have left some trace of their footsteps.
During this conversation they had been walking up the steep pathway and now found themselves well up on the mountain.
Here on the loftiest height bubbleth up for me the well of delight!
These occasions seem to go off tolerably well without me, Pussy.'
Oh, from out the sounding cells, What a gush of euphony voluminously wells! How it swells!
As coal is said to abound in all that region, and wells are generally successful, the enterprise of the emigrants is gradually prevailing against these difficulties.
Ere entering upon the subject of Fossil Whales, I present my credentials as a geologist, by stating that in my miscellaneous time i have been a stone-mason, and also a great digger of ditches, canals, and wells, wine-vaults, cellars, and cisterns of all sorts.