The Meaning of the Term Goods
People now days have become more demanding and their needs have
multiplied and become more complicated . This is one of the reasons
why new products, new goods are being introduced into the market every
single day, in order to satisfy the costumer’s wants or needs . What
can be defined as a good and what as a need or a want?
A want, a need is the unpleasant feeling of insufficiency that
a person has and is accompanied by the effort to neutralize it. We can
divide these needs into two categories: Physical and Social needs.
v Physical needs: Food, Clothing, House etc.
v Social: Education, Entertainment, Transportation etc.
(Kavazis kai Danilidi,2003)
All these needs are satisfied with the different goods which are
provided to everyone who can afford them.
We can now define the ‘’good’’ as anything that can satisfy a need ,
that is anything that is useful.
‘’Under Article 9 of the Treaty the Community is based on a customs
union ‘which shall cover all trade in goods’. By goods, within the
meaning of that provision, there must be understood products which can
be valued in money which are capable, as such, of forming the subject
the commercial transactions.’’(McMahon,1990)
‘’Section 61(1)of the Sale of Goods Act 1979 states that ’goods’:
Include all personal chattels other things in action and money, in
particular, ‘goods’ include emblements, industrial growing crops, and
things attached to or forming part of the land which are agreed to be
severed before sale or under the contract of sale’’(Furmston,2000)
In different areas goods and products can be further defined with
different ways.
‘’A product is similar to a good. In marketing a product is anything
that can be offered to a market that might satisfy a want or a
need’’.(wikipedia.org,2005)
‘’In accounting, a good is a physical product capable of being
delivered to a purchaser and involves the transfer of ownership from