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Goods
| Part of the behavioral sciences |
| Economics |
|---|
 |
In economics, goods are anything that is good, in the sense of providing welfare or utility to someone.[1][2] Goods can be contrasted with bads, i.e. things that provide negative value for users, like chores or waste. A bad lowers a consumer's overall welfare.[3]
Economics focuses on the study of economic goods, i.e. goods that are scarce; in other words, producing the good requires expending effort or resources. Economic goods contrast with free goods such as air, for which there is an unlimited supply.[4]
- ^ Alan V. Deardorff, 2006. Terms Of Trade: Glossary of International Economics, World Scientific. Online version: Deardorffs' Glossary of International Economics, "good" Archived 2013-03-18 at the Wayback Machine and "service". Archived 2017-07-01 at the Wayback Machine
- ^ Harper, Douglas. "goods". Online Etymology Dictionary.
- ^ Dwivedi, D. N. (2016). Microeconomics: Theory and Applications. Vikas Publishing House PVT LTD. p. 133. ISBN 978-93259-8670-1.
- ^ Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill.
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