(Los Angeles) Carol Channing wore the dress in the Broadway production of "Gentlemen Prefer Blondes" and was about to donate it to the Smithsonian. Kent Shocknek reports.
And it doesn`t just mean that Western car companies are looking to these emerging markets to sell their products. In fact, car makers are already expecting to face up to some serious competition from China and other countries over the next few years.Joann
(Chicago) Toy safety was the main focus of today`s Senate hearing. much of the discussion centered on China where 70 percent of the products recalled this summer alone were made. CBS 2`s Dorothy Tucker reports. .
Good (economics and accounting)
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(Redirected from Goods)
A good or commodity in economics is any object or service that increases utility, directly or indirectly, not to be confused with good in a moral or ethical sense (see Utilitarianism and consequentialist ethical theory). A good that cannot be used by consumers directly, such as an office building or capital equipment, can also be referred to as a good as an indirect source of utility through resale value or as a source of income. A 'good' in economic usage does not imply moral acceptance or even legality.
If an object or service is sold for a positive price, then it is a good since the purchaser considers the utility of the object or service more valuable than the money. Some things are useful but not scarce such as air and are referred to as free goods.
In macroeconomics and accounting, a good is contrasted with a service. A good here is defined as a physical (tangible) product capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer, as opposed to an intangible service. A more general term that preserves the distinction between goods and services is 'commodities'. In microeconomics a 'good' is often used in this more inclusive sense of a commodity.
