Definition of economic good in English:

economic good


  • A product or service which can command a price when sold.

    • ‘A spate of rulings by the World Trade Organization, the International Monetary Fund, and the World Bank treat water as an economic good.’
    • ‘For in the economic sense it also includes purchase and sale, and all partial transfers of economic goods (tenancy, rental, lending, etc.) for compensation.’
    • ‘They are treating water as an economic good, where it will be governed by market principles and put on the market to the highest bidder.’
    • ‘The classical liberals answered that the competition of businessmen will supply the markets with the economic goods needed by consumers.’
    • ‘The entire sum of economic goods at an economizing individual's command we will, on the other hand, call his wealth.’