Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Goods shopping experience:
1. Compare - without doubt the biggest advantage that the Goods offers shoppers today is the ability to compare thousands of Goods at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.
2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about
3. Testimonials - don't know anybody that has bought a Goods? Wrong! If the Goods is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.
4. Questions - Got a question about Goods then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....
5. Reputation - Never heard of the company selling Goods? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Goods and build up a picture of their reputation for sales, returns, customer service, delivery etc.
6. Returns - still worried that even after all of the above your Goods wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.
7. Feedback - happy with your Goods then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.
8. Security - check for the yellow padlock on the Goods site before you buy, and the s after http:/ /i.e. https:// = a secure site
9. Contact - got a question about Goods, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.
10. Payment - ready to pay for your Goods, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.
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 Consequentialism 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 (business) 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.
Utility characteristics of goods
A
good is an object whose consumption increases the utility of the consumer, for which the quantity demanded exceeds the quantity supplied at zero price. Goods are usually modeled as having diminishing returns. The first car an individual purchases is very valuable; the fourth is much less useful. Thus, in these and similar goods, the marginal utility of additional units approaches zero as the quantity consumed increases. Assuming that one cannot re-sell it, there is a point at which a consumer would decline to purchase an additional car, even at a price very near zero. This is the consumer's satiation point.
In some cases, such as the above example of a car, the lower limit of utility as quantity increases is zero. In other goods, the utility of a good can cross zero, changing from positive to negative through time. This means that what initially is a good can become a bad if too much of it is consumed. For example, shots of vodka can have positive utility, but beyond some point, additional units make the consumer less happy, that is, they would not be chosen.
In economics a
bad (economics) is the opposite of a good. Ultimately, whether an object is a good or a bad depends on each individual consumer, and therefore, it is important to realize that not all goods are good all the time, and not all goods are goods to all people.
Types of goods
Goods can be defined in a variety of ways, depending on a number a characteristics, these are listed in the table below;
See also
References
- Bannock, Graham et al. (1997). Dictionary of Economics, Penguin Books.
- Milgate, Murray (1987), "goods and commodities," The New Palgrave: A Dictionary of Economics, v. 2, pp. 546-48. Includes historical and contemporary uses of the terms in economics.
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
Consequentialism 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 (business) 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.
Utility characteristics of goods
A
good is an object whose consumption increases the utility of the consumer, for which the quantity demanded exceeds the quantity supplied at zero price. Goods are usually modeled as having
diminishing returns. The first car an individual purchases is very valuable; the fourth is much less useful. Thus, in these and similar goods, the marginal utility of additional units approaches zero as the quantity consumed increases. Assuming that one cannot re-sell it, there is a point at which a consumer would decline to purchase an additional car, even at a price very near zero. This is the consumer's satiation point.
In some cases, such as the above example of a car, the lower limit of utility as quantity increases is zero. In other goods, the utility of a good can cross zero, changing from positive to negative through time. This means that what initially is a good can become a bad if too much of it is consumed. For example, shots of vodka can have positive utility, but beyond some point, additional units make the consumer less happy, that is, they would not be chosen.
In economics a
bad (economics) is the opposite of a good. Ultimately, whether an object is a good or a bad depends on each individual consumer, and therefore, it is important to realize that not all goods are good all the time, and not all goods are goods to all people.
Types of goods
Goods can be defined in a variety of ways, depending on a number a characteristics, these are listed in the table below;
See also
References
- Bannock, Graham et al. (1997). Dictionary of Economics, Penguin Books.
- Milgate, Murray (1987), "goods and commodities," The New Palgrave: A Dictionary of Economics, v. 2, pp. 546-48. Includes historical and contemporary uses of the terms in economics.
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