What is Good (economics)?
[[File:Types of goods.svg|right|400px|Types of goods]] A '''good''' in [[economics]] is any object or product (factors of production) that is useful. A [[commodity]] is one kind of good. A good that cannot be used by [[consumer]]s directly, such as an office building or [[Capital (economics)| capital]] equipment, can be called a good because it can be useful if it is sold. A 'good' in economic usage does not necessarily mean that the object is good in a moral sense. 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. Some things are useful but not scarce, such as [[air]], and are referred to as ''[[free good]]s'' and ''[[common good (economics)|common goods]]''. In [[macroeconomics]] and [[Accountancy|accounting]], a good is contrasted with a [[service]]. A good here is defined as a physical [[Product (consumer goods)|product]] that one can deliver to a buyer. The service is not an object, but an action that benefits someone. A more general term that preserves the distinction between goods and services is 'commodities'. In [[microeconomics]], 'good' is often used in this more inclusive sense of a commodity. ==Reference== *[http://m.businessdictionary.com/definition/goods.html Business Dictionary]{{Dead link|date=January 2021 |bot=InternetArchiveBot |fix-attempted=yes }} [[Category:Goods|Goods]]