What is a good in economics?
Q: What is a good in economics?
A: A good in economics is any object or product that is useful and can be sold for a positive price.
Q: Is a commodity considered a good?
A: Yes, a commodity is one kind of good.
Q: Are goods always morally right?
A: No, the term 'good' in economic usage does not necessarily mean that the object is good in a moral sense.
Q: What are free goods and common goods?
A: Free goods are things that are useful but not scarce, such as air, while common goods are resources shared by multiple people or organizations.
Q: How do macroeconomics and accounting define a good?
A: In macroeconomics and accounting, a good is defined as a physical product that one can deliver to a buyer.
Q: What term preserves the distinction between goods and services? A: The more general term that preserves the distinction between goods and services is 'commodities'.
Q: How does microeconomics use the term 'good'?
A: In microeconomics 'good' is often used in an inclusive sense of referring to commodities.
