(noun) Anything that people find, grow, or make that is then bought, sold, or traded to satisfy needs or wants.
Example: A basket weaver produces a basket then sells it. The basket weaver uses the money from the sale to buy food. The basket and the food are both goods.
Audio Pronunciation: (good)
Download Audio Pronunciation: good (goods).mp3
- Plural: goods
- The terms good and commodity are often used interchangeably, but while commodities can be sold as is they are often used as raw materials to build goods.
- Typically coupled with services and written as goods and services when discussing economic matters.
- Also called:
- trade good
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