(noun) Anything that people find, grow, or make that is then bought, sold, or traded to satisfy needs or wants.
- 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.
- Gold is a found good and sold to make jewelry.
Audio Pronunciation: (good)
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- 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
- Word origin of “good” – Online Etymology Dictionary: etymonline.com
- Dobbin, Frank. 2004. The New Economic Sociology: A Reader. Princeton, NJ: Princeton University Press.
- Ensminger, Jean. 2002. Theory in Economic Anthropology. Walnut Creek, CA: AltaMira Press.
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- Fligstein, Neil. 2001. The Architecture of Markets: An Economic Sociology of Twenty-First-Century Capitalist Societies. Princeton, NJ: Princeton University Press.
- Granovetter, Mark, and Richard Swedberg. 1992. The Sociology of Economic Life. Boulder, CO: Westview Press.
- Guillén, Mauro F. 2002. The New Economic Sociology: Developments in an Emerging Field. New York: Russell Sage Foundation.
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- Polanyi, Karl. 1944. The Great Transformation. Boston: Beacon Press.
- Smelser, Neil J., and Richard Swedberg. 2005. The Handbook of Economic Sociology. 2nd. ed. Princeton, NJ: Princeton University Press.
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- Swedberg, Richard. 1998. Max Weber and the Idea of Economic Sociology. Princeton, NJ: Princeton University Press.
- Weber, Max. 1968. Economy and Society: An Outline of Interpretive Sociology. New York: Bedminster Press.
- allocation of resources
- division of labor
- economic system
- market economy
- market exchange
- reciprocal exchange
- subsistence economy
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How to Cite the Definition of Good
ASA – American Sociological Association (5th edition)
Bell, Kenton, ed. 2013. “good.” In Open Education Sociology Dictionary. Retrieved March 26, 2019 (http://sociologydictionary.org/good/).
APA – American Psychological Association (6th edition)
good. (2013). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from http://sociologydictionary.org/good/
Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)
Bell, Kenton, ed. 2013. “good.” In Open Education Sociology Dictionary. Accessed March 26, 2019. http://sociologydictionary.org/good/.
MLA – Modern Language Association (7th edition)
“good.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2013. Web. 26 Mar. 2019. <http://sociologydictionary.org/good/>.