Positional good
Positional good A positional good is an intrinsically scarce good whose value is determined by its ...
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Free good
Free good The free good is a term used in economics to describe a good that is not scarce. A free good is available in as great a quantity ... with zero opportunity cost to society. A good that is made available at zero ...
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Public good
Public good For the egalitarian terms, see Common good and Public interest In economics, a public good is a good that is hard or even impossible to ... large beneficial externalities. By definition, a public good possesses two properties: Non-rivalrous — ...
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Complement good
Complement good A complement or complementary good is defined in economics as a good that should be consumed with another good, its cross elasticity of demand is negative ... A and B were complements, more of good A being bought would result in ...
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Substitute good
Substitute good In economics, one kind of good (or service) is said to be a substitute good for another kind insofar as the two ... heating or electricity). The fact that one good is substitutable for another has immediate economic consequences: insofar as one good can be substituted for another, the ...
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Credence good
Credence good A credence good is a term used in economics for a good whose utility impact is difficult or impossible ... consumption as well. The seller of the good knows the utility impact of the good, creating a situation of asymmetric information. ...
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Intermediate good
Intermediate good Intermediate goods or producer goods are goods ... them from other producers as an intermediate good, then use them in their own car ... Intermediate consumption Types of goods (edit) collective good (social good) - private good - common good - common-pool resource - club ...
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Superior good
Superior good Superior goods make up a larger proportion ... theory. The income elasticity of a superior good is above one by definition, because it ... expenditure share as income rises. A superior good might be a luxury which isn't ... goods", but this is misleading; An inferior good can never be a superior good, but many goods are neither. If ...
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Final good
Final good In economics Final goods are goods that ... than used in the production of another good. For example, a car sold to a consumer is a final good; the components such as tires sold to ... intermediate goods used to make the final good. When used in measures of national income ... final goods. Types of goods (edit) collective good (social good) - private good - common good - ...
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Durable good
Durable good A car (Toyota Corolla S) is a durable good in economics. In economics, a durable good or a hard good is a good which does not quickly wear out, ...
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