Concept in Definition ABC

The term goods designates the plural of the word good and it has three main uses in of course three different contexts: philosophical, economic and legal.

For example, for the philosophy a good will be that which is opposed to evil, that is, your antagonistic and it is then a tautological type good that serves to describe the action of a person in the world or in a certain situation. Although the good is what we all want to obtain sometime in life, the fact that people are absolutely different from each other, it will make, what for example is good for me, for the other it is not this.

Po other part and now in terms of economy, the economic goods or also known as scarce goods, are those that are obtained after paying a price in the market in which they are marketed. These in turn are subdivided into tangible or intangible assets, but in any case they will have a value and will be capable of being valued in economic terms.

A good, in general terms, is a material object or immaterial service whose use will report to the individual who acquires it the satisfaction of some type of need or desire. On the one hand, there are free goods, which are those whose access is free and exist in infinite quantities, never ending, for example, the

air We breathe, we can breathe as much air as we want, without paying a coin and as many times as we want to do it without putting its continuity or existence at risk. Meanwhile, the economic goods that we mentioned above are presented in limited quantities and that is why they are called scarce, since their allocation responds to and depends on some type of economic procedure, such as rationing, market or distribution.

Economic goods can be classified as follows: movable property (those that are marketed both nationally and internationally, slippers, books), real estate (they can only be traded in the economy in which they are produced, a house), complementary goods (those that are used together such as vehicles and the fuel), substitute goods (they compete within a market because they satisfy the same need, such as butter and margarine), consumption (they do not seek to produce other goods or services, for example food) and capital goods (those that are used for production of other consumer goods).

And finally. In legal terms, a good will be one that is protected by the right, by a law. For example, the social interest will not be considered as such until a law establishes it.

Topics in Goods