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Download as PDF; Printable version; In other projects ... Pages in category "Manufactured goods" ... out of 16 total.
A good in economics is any object, service or right that increases utility, directly or indirectly. 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.
Physical capital represents in economics one of the three primary factors of production. Physical capital is the apparatus used to produce a good and services. Physical capital represents the tangible man-made goods that help and support the production. Inventory, cash, equipment or real estate are all examples of physical capital.
Manufacturing is an important activity in promoting economic growth and development. Nations that export manufactured products tend to generate higher marginal GDP growth, which supports higher incomes and therefore marginal tax revenue needed to fund such government expenditures as health care and infrastructure.
Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final product. The manufacturing process begins with the product design, and materials specification. These materials are then modified through manufacturing to become the ...
New orders for manufactured goods increased 3% to a seasonally adjusted $492 billion for February, according to a Commerce Department report (link opens in PDF) released today. After a revised 1% ...
Some things are useful, but not scarce enough to have monetary value, such as the Earth's atmosphere, these are referred to as 'free goods'. In normal parlance, "goods" is always a plural word, [5] [6] but economists have long termed a single item of goods "a good". In economics, a bad is the opposite of a good. [7]
Taken together, it is the production, distribution, and consumption of goods and services which underpins all economic activity and trade. According to economic theory , consumption of goods and services is assumed to provide utility (satisfaction) to the consumer or end-user, although businesses also consume goods and services in the course of ...