Good (economics)  

From The Art and Popular Culture Encyclopedia

Jump to: navigation, search

Related e

Google
Wikipedia
Wiktionary
Wiki Commons
Wikiquote
Wikisource
YouTube
Shop


Featured:
Train wreck at Montparnasse (October 22, 1895) by Studio Lévy and Sons.
Enlarge
Train wreck at Montparnasse (October 22, 1895) by Studio Lévy and Sons.

A good or commodity in economics is any object or service that increases utility, directly or indirectly, not to be confused with good in a moral or ethical sense (see Utilitarianism and consequentialist ethical theory). A good that cannot be used by consumers directly, such as an "office building" or "capital equipment", can also be referred to as a good as an indirect source of utility through resale value or as a source of income. A 'good' in economic usage has taken a divergence from root meanings associated with social moralities and legalities, but still retains the positive outlook of the word. For example, 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.

See also





Unless indicated otherwise, the text in this article is either based on Wikipedia article "Good (economics)" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on original research by Jahsonic and friends. See Art and Popular Culture's copyright notice.

Personal tools