The term “goods” is one of the fundamental concepts of economic theory. It refers to objects (products, services), whose consumption or other use brings an utility to their users.
Economic theory distinguishes following types of goods:
- Club goods
- Common goods
- Economic goods
- Giffen goods
- Inferior goods
- Luxury goods
- Necessary goods
- Normal goods
- Ordinary goods
- Private goods
- Public goods
Related terms and methods:
- Economic scarcity
- Public administration
- Public sector
- Utility
Related discipline: