In economics, a good It is a tangible or intangible object that has economic value and is produced in order to satisfy a certain need or desire. For instance: a car, a ring, a house.
The goods are present in the economic market and can be acquired by the members of a society. They can be exchangeable for money (purchase or sale) or for other goods (exchange or exchange). Goods are scarce and limited. The value of an asset can vary over time.
Types of goods
There are different criteria for classifying goods: according to their nature, their relationship with other goods, their function, their manufacturing process and their durability. These classifications are not mutually exclusive. The same good can be classified differently according to the aspect or characteristic that is taken into account.
According to its nature:
- Movable goods. They are those goods that can be transferred from one place to another. For instance: orNo book, a fridge.
- Property. They are those goods that cannot be transferred from one place to another. For instance: a building, a stadium.
According to its relationship with other assets:
- Complementary goods. They are those goods that are used together with other goods. For instance: a pot and a plant
- Substitute goods. They are those goods that can be replaced by others because they fulfill a function or satisfy a similar need. For instance: sugar and honey to sweeten a dessert.
According to its function:
- Consumer goods. They are those goods that are consumed. They are usually the end products of the production chain. For instance: a package of rice, a television.
- Capital goods. They are those goods of the production process that are used to produce consumer goods. For instance: a combine harvester, a machine in a factory.
According to its production process:
- Intermediate goods or raw materials. They are those goods that are used to obtain other goods. For instance: flour, wood.
- Final goods. They are those goods that are manufactured from others and are consumed or used by the population. For instance: a pen, a house.
According to its durability:
- Durable goods. They are those goods that can be used in a long period of time. For instance: a household appliance, a jewel.
- Non-durable goods. They are those goods that are consumed or used in a short period of time. For instance: a soda, a notebook.
According to your property:
- Free goods. They are those goods that are considered the heritage of all humanity. For instance: a river, water.
- Private goods. They are those goods that are acquired by one or more people, and only they can make use of it. For instance: a house, a car.
Examples of goods
- Cell phone
- Sewing machine