Types of Goods

Goods (in economics) are understood as products and services, understood as various types of economic goods (products, raw materials, money, etc.), that is, material goods, as well as services and intangible assets that can be the object of law, as well as being an integral part of the assets of a person or company, representing an economic value, for example in a lawsuit).

They are classified according to the economic value they represent, which is done according to their degree of scarcity, being that some goods, such as gold, beryllium, or platinum, have a greater scarcity than others such as cattle, salt or others, resulting in a higher economic value. These have the capacity to be acquired in the market, paying a certain amount, that is, “they are valued” in monetary terms, determining a certain value for this or that good.

The types of goods can be classified in various ways:

Material Goods.- This is all material goods, that is, any material object that is given a certain economic value and can be traded. For example diamonds, gold, silver, cattle, a house, the products of a company, such as radios, televisions, computers or cell phones.

Intangible Assets.- These are those that do not have a physical or material form, that is, they are intangible, as in the case of work, services, rights (authorship rights, ideas and intellectual assets protected by law, as in the case of patents, registered trademarks, titles and others, which can generate an economic benefit for the owner of the property.

Movable Property.- Movable property is understood as those that can be easily moved from one place to another, in such a way that they maintain their integrity and without affecting the integrity of the property in which they are located, being able to move by an internal force (such as in the case of a car), or by an external force, but maintaining its integrity, as is the case with furniture in a house, appliances, cars, and so on.

These are goods that legally belong to a person, company or institution, being an economic good of the person, company or institution, such as sewing machines in a workshop, company computers, etc. That is to say, they are objects or goods that can be moved and are susceptible to appropriation through trade (purchase-sale), or, where appropriate, through litigation.

Real Estate.- They are called real estate to those that present a fixed situation, in that it is not possible to move them. These can be like this, by nature (land, forests, lakes, rivers), or by the conditions that gave rise to them, such as the incorporation of a structure or construction to a land, that is, a building (house, building, farm, etc. .), in the same way some objects, such as trees, fountains, statues and other structures that are subject to the ground in a fixed way, among other objects.

Capital or production goods.- It is understood as products or goods that are not obtained or produced for final consumption, but are used for the production of other goods, representing a productive-economic factor, to obtain monetary benefits, that is to say, it is about those goods that by themselves do not provide the satisfaction of a need for the final consumer, but simply contribute to the production of other goods, yielding capital (money).

Primary Goods.- They are called themselves, those with which companies carry out the production of other goods or products, that is, they are the materials with which production is based (raw materials).

White and red potatoes in baskets

Secondary or intermediate goods.- They are called that, those that can be used for the production of other more elaborate goods, and undergo some process so that they can later be consumed. This is the case of those goods that are used by companies to manufacture other products (consumer products).

Consumer Goods.- These are those that are intended to satisfy some need or desire (of the final consumer), are the result of various transformation processes by the industry to obtain a finished good or product and that is available to the consumer, obtained in exchange for an economic good (money).

Public Goods.- These are those to which any person has access, being able to make use of them. This is the case, for example, of sidewalks, parks, sports centers, squares and other public buildings.

Private Assets.- They are assets (movable or immovable), which are owned by individuals and their use or enjoyment is for the owner of the same or those who have “domain” over the asset and its use and enjoyment is restricted to others, although some have certain public access, subject to certain conditions, such as rent or payment, as in the case of cinemas or private sports stadiums.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button