Goods, Products, and the Product Life Cycle
A good is something that has an economic utility or satisfies an economic want ([MeWe03]). Goods (the plural form) stands for personal property having intrinsic value but usually excluding money, securities, and negotiable instruments. It is the noun form of an adjective that formerly had the meaning of “fitting in a building or human society,” while today it can be defined as “suitable, serviceable, convenient, or effective.”