Goods
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A '''good''' or '''commodity''' in [[economics]] is any object or service that increases [[utility]], directly or indirectly, not to be confused with good in a moral or ethical sense (see [[Utilitarianism]] and [[Consequentialism|consequentialist]] ethical theory). A good that cannot be used by [[consumer]]s directly, such as an "office building" or "capital equipment", can also be referred to as a good as an indirect source of utility through resale value or as a source of income. A 'good' in economic usage has taken a divergence from root meanings associated with social moralities and legalities, but still retains the positive outlook of the word. For example, if an object or service is sold for a positive price, then it is a "good" since the purchaser considers the utility of the object or service more valuable than the money. | A '''good''' or '''commodity''' in [[economics]] is any object or service that increases [[utility]], directly or indirectly, not to be confused with good in a moral or ethical sense (see [[Utilitarianism]] and [[Consequentialism|consequentialist]] ethical theory). A good that cannot be used by [[consumer]]s directly, such as an "office building" or "capital equipment", can also be referred to as a good as an indirect source of utility through resale value or as a source of income. A 'good' in economic usage has taken a divergence from root meanings associated with social moralities and legalities, but still retains the positive outlook of the word. For example, if an object or service is sold for a positive price, then it is a "good" since the purchaser considers the utility of the object or service more valuable than the money. | ||
+ | == See also == | ||
+ | *[[Fast moving consumer goods]] | ||
+ | *[[Final goods]] | ||
+ | *[[Intangible asset]] | ||
+ | *[[List of economics topics]] | ||
+ | *[[Service (economics)]] | ||
+ | *[[Tangible property]] | ||
+ | |||
- | In [[macroeconomics]] and [[accountancy|accounting]], a good is contrasted with a [[Service (economics)|service]]. A good here is defined as a physical (tangible) [[Product (business)|product]] capable of being delivered to a purchaser and involves the transfer of [[ownership]] from [[seller]] to [[customer]], say an apple, as opposed to an (intangible) service, say a haircut. A more general term that preserves the distinction between goods and services is 'commodities'. In [[microeconomics]] a 'good' is often used in this more inclusive sense of the word. | ||
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A good or commodity in economics is any object or service that increases utility, directly or indirectly, not to be confused with good in a moral or ethical sense (see Utilitarianism and consequentialist ethical theory). A good that cannot be used by consumers directly, such as an "office building" or "capital equipment", can also be referred to as a good as an indirect source of utility through resale value or as a source of income. A 'good' in economic usage has taken a divergence from root meanings associated with social moralities and legalities, but still retains the positive outlook of the word. For example, if an object or service is sold for a positive price, then it is a "good" since the purchaser considers the utility of the object or service more valuable than the money.
See also
- Fast moving consumer goods
- Final goods
- Intangible asset
- List of economics topics
- Service (economics)
- Tangible property