Goods

Goods are tangible items produced to satisfy human wants and are scarce relative to demand. They have utility and can be owned, exchanged, and consumed. In economic analysis, goods are typically contrasted with services, which are intangible outputs. Most economies classify goods by function or durability.

Common categories include final goods, which are ready for end use, and intermediate goods, which are used to produce other goods; consumer goods, consumed by individuals, and capital (producer) goods, used to make other goods or services. Durability distinguishes durable goods (lasting the long term, such as appliances and vehicles) from nondurable goods (consumed quickly, such as food and medicines). Perishable and non-perishable designations can also apply. Some classifications focus on usage, such as convenience goods, shopping goods, specialty goods, and unsought goods.

From an economic perspective, goods are scarce resources arising from factors of production and allocated through markets, prices, and institutions. The price of goods reflects their supply and demand, production costs, and relative value. In national accounts, final goods are counted toward gross domestic product, while intermediate goods are excluded to avoid double counting.

Goods can be tangible or, in practice, include digital or licensed products marketed as goods in modern commerce. Ownership rights, transfer, and distribution shape how goods move through economies and across borders, influencing patterns of trade, development, and consumer access.