Actions

Information for "Good (economics)"

Basic information

Display titleGood (economics)
Default sort keyGood (economics)
Page length (in bytes)9,508
Page ID580039
Page content languageEnglish

Types of goods in economics.

In economics, a good is a material that satisfies human wants<ref>Quotation from Murray Milgate, [1987] 2008, "goods and commodities, " The New Palgrave Dictionary of Economics, 2nd ed., preview link, in referencing an influential parallel definition of 'goods' by Alfred Marshall, 1891. Principles of Economics, 2nd ed., Macmillan.</ref> and provides utility, for example, to a consumer making a purchase. A common distinction is made between 'goods' that are tangible property (also called goods) and services, which are non-physical.<ref>Alan V. Deardorff, 2006. Terms Of Trade: Glossary of International Economics, World Scientific. Online version: Deardorffs' Glossary of International Economics, "good" and "service".</ref> Commodities may be used as a synonym for economic goods but often refer to marketable raw materials and primary products.<ref>Alan V. Deardorff, 2006, Deardorffs' Glossary of International Economics "commodity".</ref>

Although in economic theory all goods are considered tangible, in reality certain classes of goods, such as information, only take intangible forms. For example, among other goods an apple is a tangible object, while news belongs to an intangible class of goods and can be perceived only by means of an instrument such as print, broadcast or computer.


Good (economics) sections
Intro   Utility characteristics of goods    Types of goods    Trading of goods    See also   Notes   References   

PREVIOUS: IntroNEXT: Utility characteristics of goods
<<>>
Page content modelwikitext
Indexing by robotsAllowed
Number of views304
Number of redirects to this page3

Page protection

EditAllow all users
MoveAllow all users

Edit history

Page creatorTukenta.Murena (Talk | contribs)
Date of page creation06:36, 4 August 2015
Latest editorTukenta.Murena (Talk | contribs)
Date of latest edit06:36, 4 August 2015
Total number of edits1
Total number of distinct authors1
Recent number of edits (within past 91 days)0
Recent number of distinct authors0