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class="vector-toc-link" href="#Types_of_goods"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Types of goods</span> </div> </a> <button aria-controls="toc-Types_of_goods-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Types of goods subsection</span> </button> <ul id="toc-Types_of_goods-sublist" class="vector-toc-list"> <li id="toc-Bads" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Bads"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.1</span> <span>Bads</span> </div> </a> <ul id="toc-Bads-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Goods_classified_by_exclusivity_and_competitiveness" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Goods_classified_by_exclusivity_and_competitiveness"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Goods classified by exclusivity and competitiveness</span> </div> </a> <button aria-controls="toc-Goods_classified_by_exclusivity_and_competitiveness-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Goods classified by exclusivity and competitiveness subsection</span> </button> <ul id="toc-Goods_classified_by_exclusivity_and_competitiveness-sublist" class="vector-toc-list"> <li id="toc-Fourfold_model_of_goods" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Fourfold_model_of_goods"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>Fourfold model of goods</span> </div> </a> <ul id="toc-Fourfold_model_of_goods-sublist" class="vector-toc-list"> <li id="toc-Public_goods" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Public_goods"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1.1</span> <span>Public goods</span> </div> </a> <ul id="toc-Public_goods-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Private_goods" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Private_goods"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1.2</span> <span>Private goods</span> </div> </a> <ul id="toc-Private_goods-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Common-pool_resources" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Common-pool_resources"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1.3</span> <span>Common-pool resources</span> </div> </a> <ul id="toc-Common-pool_resources-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Club_goods" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Club_goods"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1.4</span> <span>Club goods</span> </div> </a> <ul id="toc-Club_goods-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-History_of_the_fourfold_model_of_goods" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#History_of_the_fourfold_model_of_goods"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>History of the fourfold model of goods</span> </div> </a> <ul id="toc-History_of_the_fourfold_model_of_goods-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Expansion_of_fourfold_model:_anti-rivalrous" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Expansion_of_fourfold_model:_anti-rivalrous"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.3</span> <span>Expansion of fourfold model: anti-rivalrous</span> </div> </a> <ul id="toc-Expansion_of_fourfold_model:_anti-rivalrous-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Expansion_of_Fourfold_model:_Semi-Excludable" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Expansion_of_Fourfold_model:_Semi-Excludable"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.4</span> <span>Expansion of Fourfold model: Semi-Excludable</span> </div> </a> <ul id="toc-Expansion_of_Fourfold_model:_Semi-Excludable-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Trading_of_goods" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Trading_of_goods"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Trading of goods</span> </div> </a> <ul id="toc-Trading_of_goods-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Notes</span> </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" title="Table of Contents" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Goods</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 78 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-78" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">78 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%B3%D9%84%D8%B9%D8%A9" title="سلعة – Arabic" lang="ar" hreflang="ar" data-title="سلعة" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Bien_econ%C3%B3micu" title="Bien económicu – Asturian" lang="ast" hreflang="ast" data-title="Bien económicu" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target"><span>Asturianu</span></a></li><li class="interlanguage-link interwiki-ay mw-list-item"><a href="https://ay.wikipedia.org/wiki/Y%C3%A4naka" title="Yänaka – Aymara" lang="ay" hreflang="ay" data-title="Yänaka" data-language-autonym="Aymar aru" data-language-local-name="Aymara" class="interlanguage-link-target"><span>Aymar aru</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/%C6%8Fmt%C9%99%C9%99" title="Əmtəə – Azerbaijani" lang="az" hreflang="az" data-title="Əmtəə" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a href="https://azb.wikipedia.org/wiki/%D9%85%D8%A7%D9%84" title="مال – South Azerbaijani" lang="azb" hreflang="azb" data-title="مال" data-language-autonym="تۆرکجه" data-language-local-name="South Azerbaijani" class="interlanguage-link-target"><span>تۆرکجه</span></a></li><li class="interlanguage-link interwiki-zh-min-nan mw-list-item"><a href="https://zh-min-nan.wikipedia.org/wiki/Ch%C3%A2i-h%C3%B2e" title="Châi-hòe – Minnan" lang="nan" hreflang="nan" data-title="Châi-hòe" data-language-autonym="閩南語 / Bân-lâm-gú" data-language-local-name="Minnan" class="interlanguage-link-target"><span>閩南語 / Bân-lâm-gú</span></a></li><li class="interlanguage-link interwiki-be-x-old mw-list-item"><a href="https://be-tarask.wikipedia.org/wiki/%D0%A2%D0%B0%D0%B2%D0%B0%D1%80" title="Тавар – Belarusian (Taraškievica orthography)" lang="be-tarask" hreflang="be-tarask" data-title="Тавар" data-language-autonym="Беларуская (тарашкевіца)" data-language-local-name="Belarusian (Taraškievica orthography)" class="interlanguage-link-target"><span>Беларуская (тарашкевіца)</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%91%D0%BB%D0%B0%D0%B3%D0%BE" title="Благо – Bulgarian" lang="bg" hreflang="bg" data-title="Благо" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-bs mw-list-item"><a href="https://bs.wikipedia.org/wiki/Roba" title="Roba – Bosnian" lang="bs" hreflang="bs" data-title="Roba" data-language-autonym="Bosanski" data-language-local-name="Bosnian" class="interlanguage-link-target"><span>Bosanski</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/B%C3%A9_(economia)" title="Bé (economia) – Catalan" lang="ca" hreflang="ca" data-title="Bé (economia)" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cv mw-list-item"><a href="https://cv.wikipedia.org/wiki/%D0%9F%D0%B0%D1%80%D1%85%D0%B0%D1%82%D0%B0%D1%80_(%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0)" title="Пархатар (экономика) – Chuvash" lang="cv" hreflang="cv" data-title="Пархатар (экономика)" data-language-autonym="Чӑвашла" data-language-local-name="Chuvash" class="interlanguage-link-target"><span>Чӑвашла</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Statek" title="Statek – Czech" lang="cs" hreflang="cs" data-title="Statek" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-cy mw-list-item"><a href="https://cy.wikipedia.org/wiki/Nwydd" title="Nwydd – Welsh" lang="cy" hreflang="cy" data-title="Nwydd" data-language-autonym="Cymraeg" data-language-local-name="Welsh" class="interlanguage-link-target"><span>Cymraeg</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Gode_(%C3%B8konomi)" title="Gode (økonomi) – Danish" lang="da" hreflang="da" data-title="Gode (økonomi)" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Gut_(Wirtschaftswissenschaft)" title="Gut (Wirtschaftswissenschaft) – German" lang="de" hreflang="de" data-title="Gut (Wirtschaftswissenschaft)" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%91%CE%B3%CE%B1%CE%B8%CF%8C_(%CE%BF%CE%B9%CE%BA%CE%BF%CE%BD%CE%BF%CE%BC%CE%AF%CE%B1)" title="Αγαθό (οικονομία) – Greek" lang="el" hreflang="el" data-title="Αγαθό (οικονομία)" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Bien_econ%C3%B3mico" title="Bien económico – Spanish" lang="es" hreflang="es" data-title="Bien económico" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Hava%C4%B5o" title="Havaĵo – Esperanto" lang="eo" hreflang="eo" data-title="Havaĵo" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Ondasun" title="Ondasun – Basque" lang="eu" hreflang="eu" data-title="Ondasun" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%DA%A9%D8%A7%D9%84%D8%A7" title="کالا – Persian" lang="fa" hreflang="fa" data-title="کالا" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Bien_(%C3%A9conomie)" title="Bien (économie) – French" lang="fr" hreflang="fr" data-title="Bien (économie)" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ga mw-list-item"><a href="https://ga.wikipedia.org/wiki/Earra%C3%AD" title="Earraí – Irish" lang="ga" hreflang="ga" data-title="Earraí" data-language-autonym="Gaeilge" data-language-local-name="Irish" class="interlanguage-link-target"><span>Gaeilge</span></a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Ben_econ%C3%B3mico" title="Ben económico – Galician" lang="gl" hreflang="gl" data-title="Ben económico" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target"><span>Galego</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%9E%AC%ED%99%94" title="재화 – Korean" lang="ko" hreflang="ko" data-title="재화" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B2%D5%A1%D6%80%D5%AB%D6%84" title="Բարիք – Armenian" lang="hy" hreflang="hy" data-title="Բարիք" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B5%E0%A4%B8%E0%A5%8D%E0%A4%A4%E0%A5%81_(%E0%A4%85%E0%A4%B0%E0%A5%8D%E0%A4%A5%E0%A4%B6%E0%A4%BE%E0%A4%B8%E0%A5%8D%E0%A4%A4%E0%A5%8D%E0%A4%B0)" title="वस्तु (अर्थशास्त्र) – Hindi" lang="hi" hreflang="hi" data-title="वस्तु (अर्थशास्त्र)" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Ekonomsko_dobro" title="Ekonomsko dobro – Croatian" lang="hr" hreflang="hr" data-title="Ekonomsko dobro" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-io mw-list-item"><a href="https://io.wikipedia.org/wiki/Bonajo" title="Bonajo – Ido" lang="io" hreflang="io" data-title="Bonajo" data-language-autonym="Ido" data-language-local-name="Ido" class="interlanguage-link-target"><span>Ido</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Barang" title="Barang – Indonesian" lang="id" hreflang="id" data-title="Barang" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-zu mw-list-item"><a href="https://zu.wikipedia.org/wiki/Izingudla" title="Izingudla – Zulu" lang="zu" hreflang="zu" data-title="Izingudla" data-language-autonym="IsiZulu" data-language-local-name="Zulu" class="interlanguage-link-target"><span>IsiZulu</span></a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/Vara" title="Vara – Icelandic" lang="is" hreflang="is" data-title="Vara" data-language-autonym="Íslenska" data-language-local-name="Icelandic" class="interlanguage-link-target"><span>Íslenska</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Merce" title="Merce – Italian" lang="it" hreflang="it" data-title="Merce" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-sw mw-list-item"><a href="https://sw.wikipedia.org/wiki/Bidhaa" title="Bidhaa – Swahili" lang="sw" hreflang="sw" data-title="Bidhaa" data-language-autonym="Kiswahili" data-language-local-name="Swahili" class="interlanguage-link-target"><span>Kiswahili</span></a></li><li class="interlanguage-link interwiki-ht mw-list-item"><a href="https://ht.wikipedia.org/wiki/Byen_(ekonomi)" title="Byen (ekonomi) – Haitian Creole" lang="ht" hreflang="ht" data-title="Byen (ekonomi)" data-language-autonym="Kreyòl ayisyen" data-language-local-name="Haitian Creole" class="interlanguage-link-target"><span>Kreyòl ayisyen</span></a></li><li class="interlanguage-link interwiki-gcr mw-list-item"><a href="https://gcr.wikipedia.org/wiki/Byen_(%C3%A9konomi)" title="Byen (ékonomi) – Guianan Creole" lang="gcr" hreflang="gcr" data-title="Byen (ékonomi)" data-language-autonym="Kriyòl gwiyannen" data-language-local-name="Guianan Creole" class="interlanguage-link-target"><span>Kriyòl gwiyannen</span></a></li><li class="interlanguage-link interwiki-la mw-list-item"><a href="https://la.wikipedia.org/wiki/Mercimonium" title="Mercimonium – Latin" lang="la" hreflang="la" data-title="Mercimonium" data-language-autonym="Latina" data-language-local-name="Latin" class="interlanguage-link-target"><span>Latina</span></a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/Prece" title="Prece – Latvian" lang="lv" hreflang="lv" data-title="Prece" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target"><span>Latviešu</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Prek%C4%97" title="Prekė – Lithuanian" lang="lt" hreflang="lt" data-title="Prekė" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Javak" title="Javak – Hungarian" lang="hu" hreflang="hu" data-title="Javak" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%94%D0%BE%D0%B1%D1%80%D0%BE_(%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%98%D0%B0)" title="Добро (економија) – Macedonian" lang="mk" hreflang="mk" data-title="Добро (економија)" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-ml mw-list-item"><a href="https://ml.wikipedia.org/wiki/%E0%B4%9A%E0%B4%B0%E0%B4%95%E0%B5%8D%E0%B4%95%E0%B5%8D" title="ചരക്ക് – Malayalam" lang="ml" hreflang="ml" data-title="ചരക്ക്" data-language-autonym="മലയാളം" data-language-local-name="Malayalam" class="interlanguage-link-target"><span>മലയാളം</span></a></li><li class="interlanguage-link interwiki-mr mw-list-item"><a href="https://mr.wikipedia.org/wiki/%E0%A4%B5%E0%A5%8D%E0%A4%AF%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%B0%E0%A4%AE%E0%A4%BE%E0%A4%B2" title="व्यापारमाल – Marathi" lang="mr" hreflang="mr" data-title="व्यापारमाल" data-language-autonym="मराठी" data-language-local-name="Marathi" class="interlanguage-link-target"><span>मराठी</span></a></li><li class="interlanguage-link interwiki-arz mw-list-item"><a href="https://arz.wikipedia.org/wiki/%D8%A8%D8%B6%D8%A7%D8%B9%D9%87" title="بضاعه – Egyptian Arabic" lang="arz" hreflang="arz" data-title="بضاعه" data-language-autonym="مصرى" data-language-local-name="Egyptian Arabic" class="interlanguage-link-target"><span>مصرى</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Barang" title="Barang – Malay" lang="ms" hreflang="ms" data-title="Barang" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D0%91%D0%B0%D1%80%D0%B0%D0%B0" title="Бараа – Mongolian" lang="mn" hreflang="mn" data-title="Бараа" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target"><span>Монгол</span></a></li><li class="interlanguage-link interwiki-my mw-list-item"><a href="https://my.wikipedia.org/wiki/%E1%80%80%E1%80%AF%E1%80%94%E1%80%BA%E1%80%85%E1%80%8A%E1%80%BA" title="ကုန်စည် – Burmese" lang="my" hreflang="my" data-title="ကုန်စည်" data-language-autonym="မြန်မာဘာသာ" data-language-local-name="Burmese" class="interlanguage-link-target"><span>မြန်မာဘာသာ</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Goed_(economie)" title="Goed (economie) – Dutch" lang="nl" hreflang="nl" data-title="Goed (economie)" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E8%B2%A1" title="財 – Japanese" lang="ja" hreflang="ja" data-title="財" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Gode_(%C3%B8konomi)" title="Gode (økonomi) – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Gode (økonomi)" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-oc mw-list-item"><a href="https://oc.wikipedia.org/wiki/Ben_(economia)" title="Ben (economia) – Occitan" lang="oc" hreflang="oc" data-title="Ben (economia)" data-language-autonym="Occitan" data-language-local-name="Occitan" class="interlanguage-link-target"><span>Occitan</span></a></li><li class="interlanguage-link interwiki-pa mw-list-item"><a href="https://pa.wikipedia.org/wiki/%E0%A8%B5%E0%A8%B8%E0%A8%A4%E0%A8%BE%E0%A8%82_(%E0%A8%85%E0%A8%B0%E0%A8%A5_%E0%A8%B8%E0%A8%BC%E0%A8%BE%E0%A8%B8%E0%A8%A4%E0%A8%B0)" title="ਵਸਤਾਂ (ਅਰਥ ਸ਼ਾਸਤਰ) – Punjabi" lang="pa" hreflang="pa" data-title="ਵਸਤਾਂ (ਅਰਥ ਸ਼ਾਸਤਰ)" data-language-autonym="ਪੰਜਾਬੀ" data-language-local-name="Punjabi" class="interlanguage-link-target"><span>ਪੰਜਾਬੀ</span></a></li><li class="interlanguage-link interwiki-ps mw-list-item"><a href="https://ps.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A_%D8%AA%D9%88%DA%A9%D9%8A" title="اقتصادي توکي – Pashto" lang="ps" hreflang="ps" data-title="اقتصادي توکي" data-language-autonym="پښتو" data-language-local-name="Pashto" class="interlanguage-link-target"><span>پښتو</span></a></li><li class="interlanguage-link interwiki-jam mw-list-item"><a href="https://jam.wikipedia.org/wiki/Gud" title="Gud – Jamaican Creole English" lang="jam" hreflang="jam" data-title="Gud" data-language-autonym="Patois" data-language-local-name="Jamaican Creole English" class="interlanguage-link-target"><span>Patois</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Dobra_(ekonomia)" title="Dobra (ekonomia) – Polish" lang="pl" hreflang="pl" data-title="Dobra (ekonomia)" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Bem_(economia)" title="Bem (economia) – Portuguese" lang="pt" hreflang="pt" data-title="Bem (economia)" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Bun_economic" title="Bun economic – Romanian" lang="ro" hreflang="ro" data-title="Bun economic" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%91%D0%BB%D0%B0%D0%B3%D0%BE_(%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0)" title="Благо (экономика) – Russian" lang="ru" hreflang="ru" data-title="Благо (экономика)" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sah mw-list-item"><a href="https://sah.wikipedia.org/wiki/%D0%91%D1%8B%D0%B9%D0%B0%D2%A5" title="Быйаҥ – Yakut" lang="sah" hreflang="sah" data-title="Быйаҥ" data-language-autonym="Саха тыла" data-language-local-name="Yakut" class="interlanguage-link-target"><span>Саха тыла</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Mallrat" title="Mallrat – Albanian" lang="sq" hreflang="sq" data-title="Mallrat" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-si mw-list-item"><a href="https://si.wikipedia.org/wiki/%E0%B6%B7%E0%B7%8F%E0%B6%AB%E0%B7%8A%E0%B6%A9" title="භාණ්ඩ – Sinhala" lang="si" hreflang="si" data-title="භාණ්ඩ" data-language-autonym="සිංහල" data-language-local-name="Sinhala" class="interlanguage-link-target"><span>සිංහල</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Good_(economics)" title="Good (economics) – Simple English" lang="en-simple" hreflang="en-simple" data-title="Good (economics)" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Statok_(ekon%C3%B3mia)" title="Statok (ekonómia) – Slovak" lang="sk" hreflang="sk" data-title="Statok (ekonómia)" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Dobrina_(ekonomija)" title="Dobrina (ekonomija) – Slovenian" lang="sl" hreflang="sl" data-title="Dobrina (ekonomija)" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-ckb mw-list-item"><a href="https://ckb.wikipedia.org/wiki/%D8%B4%D8%AA%D9%88%D9%85%DB%95%DA%A9" title="شتومەک – Central Kurdish" lang="ckb" hreflang="ckb" data-title="شتومەک" data-language-autonym="کوردی" data-language-local-name="Central Kurdish" class="interlanguage-link-target"><span>کوردی</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/Dobro_(ekonomija)" title="Dobro (ekonomija) – Serbian" lang="sr" hreflang="sr" data-title="Dobro (ekonomija)" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/Roba" title="Roba – Serbo-Croatian" lang="sh" hreflang="sh" data-title="Roba" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target"><span>Srpskohrvatski / српскохрватски</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Varor" title="Varor – Swedish" lang="sv" hreflang="sv" data-title="Varor" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%AA%E0%AE%A3%E0%AF%8D%E0%AE%9F%E0%AE%AE%E0%AF%8D" title="பண்டம் – Tamil" lang="ta" hreflang="ta" data-title="பண்டம்" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-tt mw-list-item"><a href="https://tt.wikipedia.org/wiki/%D0%98%D0%BA%D1%8A%D1%82%D0%B8%D1%81%D0%B0%D0%B4%D0%B8_%D0%B1%D0%B0%D0%B9%D0%BB%D1%8B%D0%BA%D0%BB%D0%B0%D1%80" title="Икътисади байлыклар – Tatar" lang="tt" hreflang="tt" data-title="Икътисади байлыклар" data-language-autonym="Татарча / tatarça" data-language-local-name="Tatar" class="interlanguage-link-target"><span>Татарча / tatarça</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B9%80%E0%B8%A8%E0%B8%A3%E0%B8%A9%E0%B8%90%E0%B8%97%E0%B8%A3%E0%B8%B1%E0%B8%9E%E0%B8%A2%E0%B9%8C" title="เศรษฐทรัพย์ – Thai" lang="th" hreflang="th" data-title="เศรษฐทรัพย์" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Mal" title="Mal – Turkish" lang="tr" hreflang="tr" data-title="Mal" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%91%D0%BB%D0%B0%D0%B3%D0%BE_(%D0%B5%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0)" title="Благо (економіка) – Ukrainian" lang="uk" hreflang="uk" data-title="Благо (економіка)" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-ur mw-list-item"><a href="https://ur.wikipedia.org/wiki/%D8%A7%D8%B4%DB%8C%D8%A7%D8%A1" title="اشیاء – Urdu" lang="ur" hreflang="ur" data-title="اشیاء" data-language-autonym="اردو" data-language-local-name="Urdu" class="interlanguage-link-target"><span>اردو</span></a></li><li class="interlanguage-link interwiki-vec mw-list-item"><a href="https://vec.wikipedia.org/wiki/Merse" title="Merse – Venetian" lang="vec" hreflang="vec" data-title="Merse" data-language-autonym="Vèneto" data-language-local-name="Venetian" class="interlanguage-link-target"><span>Vèneto</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/V%E1%BA%ADt_ph%E1%BA%A9m" title="Vật phẩm – Vietnamese" lang="vi" hreflang="vi" data-title="Vật phẩm" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://wuu.wikipedia.org/wiki/%E5%95%86%E5%93%81" title="商品 – Wu" lang="wuu" hreflang="wuu" data-title="商品" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target"><span>吴语</span></a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a 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var(--background-color-interactive, #efefef); color: var(--color-base, #000); padding:0.2em;"><a href="/wiki/Economics" title="Economics">Economics</a></th></tr><tr><td class="sidebar-image"><span class="notpageimage skin-invert-image" typeof="mw:File"><a href="/wiki/File:Supply-demand-equilibrium.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/120px-Supply-demand-equilibrium.svg.png" decoding="async" width="120" height="120" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/180px-Supply-demand-equilibrium.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/240px-Supply-demand-equilibrium.svg.png 2x" data-file-width="217" data-file-height="217" /></a></span></td></tr><tr><td class="sidebar-above"> <div class="hlist"><ul><li><a href="/wiki/Outline_of_economics" title="Outline of 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class="sidebar-content" style="text-align:left;colwidth=100px;"> <div class="sidebar-list mw-collapsible"><div class="sidebar-list-title" style="background:#efefef; border-top:1px solid;background: var(--background-color-interactive, #efefef); color: var(--color-base, #000);;color: var(--color-base)">Tools and <a href="/wiki/Economic_methodology" title="Economic methodology">methodology</a></div><div class="sidebar-list-content mw-collapsible-content"><b><a href="/wiki/Theoretical_economics" class="mw-redirect" title="Theoretical economics">Economic theory</a></b> <ul><li><a href="/wiki/Mathematical_model" title="Mathematical model">Mathematical modeling</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Rational_agent_model" class="mw-redirect" title="Rational agent model">Rational choice</a></li> <li><a href="/wiki/Cognitive_science" title="Cognitive science">Cognitive science</a> (<a href="/wiki/Behavioral_economics" 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portal</a></li></ul></div></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374" /><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economics_sidebar" title="Template:Economics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics_sidebar" title="Template talk:Economics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics_sidebar" title="Special:EditPage/Template:Economics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>In <a href="/wiki/Economics" title="Economics">economics</a>, <b>goods</b> are anything that is <a href="/wiki/Good" title="Good">good</a>, usually in the sense that it provides <a href="/wiki/Well-being" title="Well-being">welfare</a> or <a href="/wiki/Utility" title="Utility">utility</a> to someone.<sup id="cite_ref-:1_1-0" class="reference"><a href="#cite_note-:1-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> Goods can be contrasted with <b>bads</b>, i.e. things that provide negative value for users, like <a href="/wiki/Chore_division" title="Chore division">chores</a> or <a href="/wiki/Waste" title="Waste">waste</a>. A bad lowers a consumer's overall welfare.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>Economics focuses on the study of <b>economic goods</b>, i.e. goods that are <a href="/wiki/Scarce" class="mw-redirect" title="Scarce">scarce</a>; in other words, producing the good requires expending effort or resources. Economic goods contrast with <b>free goods</b> such as air, for which there is an unlimited supply.<sup id="cite_ref-Samuelson_4-0" class="reference"><a href="#cite_note-Samuelson-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Utility_and_characteristics_of_goods">Utility and characteristics of goods</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=1" title="Edit section: Utility and characteristics of goods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The change in utility (pleasure or satisfaction) gained by consuming one unit of a good is called its <a href="/wiki/Marginal_utility" title="Marginal utility">marginal utility</a>. Goods are commonly considered to have diminishing marginal utility, which means that consuming more gives less utility per amount consumed.<sup id="cite_ref-l066_5-0" class="reference"><a href="#cite_note-l066-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> Some things are useful, but not scarce enough to have <a href="/wiki/Monetary_value" class="mw-redirect" title="Monetary value">monetary value</a>, such as the <a href="/wiki/Earth%27s_atmosphere" class="mw-redirect" title="Earth's atmosphere">Earth's atmosphere</a>; these are referred to as <i><a href="/wiki/Free_good" title="Free good">free goods</a></i>.<sup id="cite_ref-e266_6-0" class="reference"><a href="#cite_note-e266-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Final_good" title="Final good">Final goods</a> are items that are ultimately consumed, rather than used in the production of another good. For example, a <a href="/wiki/Microwave_oven" title="Microwave oven">microwave oven</a> or a <a href="/wiki/Bicycle" title="Bicycle">bicycle</a> that is sold to a consumer is a final good or consumer good, but the components that are sold to be used in those goods are <a href="/wiki/Intermediate_good" title="Intermediate good">intermediate goods</a>. For example, <a href="/wiki/Textile" title="Textile">textiles</a> or <a href="/wiki/Transistor" title="Transistor">transistors</a> can be used to make some further goods. </p><p>Commercial goods are construed as tangible products that are manufactured and then made available for supply to be used in an industry of commerce. Commercial goods could be tractors, commercial vehicles, mobile structures, airplanes, and even roofing materials. Commercial and personal goods as categories are very broad and cover almost everything a person sees from the time they wake up in their home, on their commute to work to their arrival at the workplace. </p><p><a href="/wiki/Commodity" title="Commodity">Commodities</a> may be used as a <a href="/wiki/Synonym" title="Synonym">synonym</a> for economic goods but often refer to marketable <a href="/wiki/Raw_material" title="Raw material">raw materials</a> and <a href="/wiki/Primary_sector_of_the_economy" title="Primary sector of the economy">primary products</a>.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>Although common goods are <a href="/wiki/Tangibility" title="Tangibility">tangible</a>, certain classes of goods, such as <a href="/wiki/Information" title="Information">information</a>, only take <a href="/wiki/Intangible_asset" title="Intangible asset">intangible</a> forms. For example, among other goods an <a href="/wiki/Apple" title="Apple">apple</a> is a tangible object, while <a href="/wiki/News" title="News">news</a> belongs to an intangible class of goods and can be perceived only by means of an instrument such as <a href="/wiki/Publishing" title="Publishing">printers</a> or <a href="/wiki/Television" title="Television">television</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Types_of_goods">Types of goods</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=2" title="Edit section: Types of goods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Types_of_goods.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f5/Types_of_goods.svg/296px-Types_of_goods.svg.png" decoding="async" width="296" height="202" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f5/Types_of_goods.svg/444px-Types_of_goods.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f5/Types_of_goods.svg/592px-Types_of_goods.svg.png 2x" data-file-width="517" data-file-height="353" /></a><figcaption>Types of goods in economics</figcaption></figure> <p>Goods' diversity allows for their classification into different categories based on distinctive characteristics, such as tangibility and (ordinal) relative elasticity. A tangible good like an apple differs from an intangible good like information due to the impossibility of a person to physically hold the latter, whereas the former occupies physical space. Intangible goods differ from services in that final (intangible) goods are transferable and can be traded, whereas a service cannot. </p><p><a href="/wiki/Price_elasticity_of_demand" title="Price elasticity of demand">Price elasticity</a> also differentiates types of goods. An elastic good is one for which there is a relatively large change in quantity due to a relatively small change in price, and therefore is likely to be part of a family of <a href="/wiki/Substitute_good" title="Substitute good">substitute goods</a>; for example, as pen prices rise, consumers might buy more pencils instead. An inelastic good is one for which there are few or no substitutes, such as tickets to major sporting events,<sup id="cite_ref-:0_8-0" class="reference"><a href="#cite_note-:0-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> original works by famous artists,<sup id="cite_ref-:1_1-1" class="reference"><a href="#cite_note-:1-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> and prescription medicine such as insulin. <a href="/wiki/Complementary_good" title="Complementary good">Complementary goods</a> are generally more inelastic than goods in a family of substitutes. For example, if a rise in the price of beef results in a decrease in the quantity of beef demanded, it is likely that the quantity of hamburger buns demanded will also drop, despite no change in buns' prices. This is because hamburger buns and beef (in Western culture) are <a href="/wiki/Complementary_good" title="Complementary good">complementary goods</a>. Goods considered complements or substitutes are relative associations and should not be understood in a vacuum. The degree to which a good is a substitute or a complement depends on its relationship to other goods, rather than an intrinsic characteristic, and can be measured as <a href="/wiki/Cross_elasticity_of_demand" title="Cross elasticity of demand">cross elasticity of demand</a> by employing statistical techniques such as covariance and correlation. </p> <div class="mw-heading mw-heading3"><h3 id="Bads">Bads</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=3" title="Edit section: Bads"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A bad is the opposite of a good, because its consumption or presence lowers the customer's <a href="/wiki/Utility" title="Utility">utility</a>. With goods, a two-party transaction results in the exchange of money for some object, as when money is exchanged for a <a href="/wiki/Car" title="Car">car</a>. With a bad, however, both money and the object in question go the same direction, as when a household gives up both money and garbage to a <a href="/wiki/Waste_collector" title="Waste collector">waste collector</a>, meaning the garbage has a negative price (as the waste collector is receiving both garbage and money, thus paying a negative amount for the garbage).<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Goods_classified_by_exclusivity_and_competitiveness">Goods classified by exclusivity and competitiveness</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=4" title="Edit section: Goods classified by exclusivity and competitiveness"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Fourfold_model_of_goods">Fourfold model of goods</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=5" title="Edit section: Fourfold model of goods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Goods can be classified based on their degree of excludability and rivalry (competitiveness). Considering excludability can be measured on a continuous scale, some goods would not be able to fall into one of the four common categories used. </p><p>There are four types of goods based on the characteristics of rival in consumption and excludability: Public Goods, Private Goods, Common Resources, and Club Goods.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> These four types plus examples for anti-rivalry appear in the accompanying table.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p> <table class="wikitable" style="text-align:center"> <tbody><tr> <th> </th> <th><a href="/wiki/Excludability" title="Excludability">Excludable</a> </th> <th>Non-excludable </th></tr> <tr> <th><a href="/wiki/Rivalry_(economics)" title="Rivalry (economics)">Rivalrous</a> </th> <td><b><a href="/wiki/Private_good" title="Private good">Private goods</a></b><br />eg. food, clothing, <a href="/wiki/Parking_space" title="Parking space">parking spaces</a> </td> <td><b><a href="/wiki/Common-pool_resource" title="Common-pool resource">Common-pool resources</a></b> <br />eg. fish stocks, timber </td></tr> <tr> <th>Non-rivalrous </th> <td><b><a href="/wiki/Club_good" title="Club good">Club goods</a></b><br />eg. cinemas, software, private parks </td> <td><b><a href="/wiki/Public_good_(economics)" class="mw-redirect" title="Public good (economics)">Public goods</a></b><br />eg. <a href="/wiki/Free-to-air" title="Free-to-air">free-to-air television</a>, air, <a href="/wiki/National_security" title="National security">national defense</a> </td></tr></tbody></table> <div class="mw-heading mw-heading4"><h4 id="Public_goods">Public goods</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=6" title="Edit section: Public goods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Goods that are both non-rival and non-excludable are called <a href="/wiki/Public_good_(economics)" class="mw-redirect" title="Public good (economics)">public goods</a>. In many cases, renewable resources, such as land, are common commodities but some of them are contained in public goods. Public goods are non-exclusive and non-competitive, meaning that individuals cannot be stopped from using them and anyone can consume this good without hindering the ability of others to consume them. Examples in addition to the ones in the matrix are national parks, or firework displays. It is generally accepted by mainstream economists that the market mechanism will under-provide public goods, so these goods have to be produced by other means, including government provision. Public goods can also suffer from the <a href="/wiki/Free-rider_problem" title="Free-rider problem">Free-Rider problem</a>. </p> <div class="mw-heading mw-heading4"><h4 id="Private_goods">Private goods</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=7" title="Edit section: Private goods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Private_good" title="Private good">Private goods</a> are excludable goods, which prevent other consumers from consuming them. Private goods are also rivalrous because one good in private ownership cannot be used by someone else. That is to say, consuming some goods will deprive another consumer of the ability to consume the goods. Private goods are the most common type of goods. They include what you have to get from the store. For examples food, clothing, cars, parking spaces, etc. An individual who consumes an apple denies another individual from consuming the same one. It is excludable because consumption is only offered to those willing to pay the price.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Common-pool_resources">Common-pool resources</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=8" title="Edit section: Common-pool resources"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Common-pool_resource" title="Common-pool resource">Common-pool resources</a> are rival in consumption and non-excludable. An example is that of fisheries, which harvest fish from a shared common resource pool of fish stock. Fish caught by one group of fishermen are no longer accessible to another group, thus being rivalrous. However, oftentimes, due to an absence of well-defined <a href="/wiki/Property_rights_(economics)" title="Property rights (economics)">property rights</a>, it is difficult to restrict access to fishermen who may overfish.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Club_goods">Club goods</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=9" title="Edit section: Club goods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Club_good" title="Club good">Club goods</a> are excludable but not rivalrous in the consumption. That is, not everyone can use the good, but when one individual has claim to use it, they do not reduce the amount or the ability for others to consume the good. By joining a specific club or organization we can obtain club goods; As a result, some people are excluded because they are not members. Examples in addition to the ones in the matrix are cable television, golf courses, and any merchandise provided to club members. A large television service provider would already have infrastructure in place which would allow for the addition of new customers without infringing on existing customers viewing abilities. This would also mean that marginal cost would be close to zero, which satisfies the criteria for a good to be considered non-rival. However, access to cable TV services is only available to consumers willing to pay the price, demonstrating the excludability aspect.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p><p>Economists set these categories for these goods and their impact on consumers. The government is usually responsible for public goods and common goods, and enterprises are generally responsible for the production of private and club goods, although this is not always the case. </p> <div class="mw-heading mw-heading3"><h3 id="History_of_the_fourfold_model_of_goods">History of the fourfold model of goods</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=10" title="Edit section: History of the fourfold model of goods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1977, Nobel winner <a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Elinor Ostrom</a> and her husband <a href="/wiki/Vincent_Ostrom" title="Vincent Ostrom">Vincent Ostrom</a> proposed additional modifications to the existing classification of goods so to identify fundamental differences that affect the incentives facing individuals. Their definitions are presented on the matrix.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Elinor Ostrom</a> proposed additional modifications to the classification of goods to identify fundamental differences that affect the incentives facing individuals<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <ol><li>Replacing the term "rivalry of consumption" with "subtractability of use".</li> <li>Conceptualizing subtractability of use and excludability to vary from low to high rather than characterizing them as either present or absent.</li> <li>Overtly adding a very important fourth type of good—common-pool resources—that shares the attribute of subtractability with private goods and difficulty of exclusion with public goods. Forests, water systems, fisheries, and the global atmosphere are all common-pool resources of immense importance for the survival of humans on this earth.</li> <li>Changing the name of a "club" good to a "toll" good since goods that share these characteristics are provided by small scale public as well as private associations.</li></ol> <div class="mw-heading mw-heading3"><h3 id="Expansion_of_fourfold_model:_anti-rivalrous">Expansion of fourfold model: anti-rivalrous</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=11" title="Edit section: Expansion of fourfold model: anti-rivalrous"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951" /><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Rivalry_(economics)#Anti-rivalry" title="Rivalry (economics)">Rivalry (economics) § Anti-rivalry</a></div> <p>Consumption can be extended to include "Anti-rivalrous" consumption. </p> <table class="wikitable"> <caption>Types of goods based on consumption and excludability </caption> <tbody><tr> <th></th> <th colspan="2">Excludable </th></tr> <tr> <th></th> <th>yes</th> <th>no </th></tr> <tr> <th>Rivalrous </th> <td>Private good</td> <td>Common-pool good </td></tr> <tr> <th>Non-rivalrous </th> <td>Club / toll good </td> <td>Public good </td></tr> <tr> <th>Anti-rivalrous </th> <td>"network" good, e.g., data on the internet; good that improves public health </td> <td>"symbiotic" good, e.g., language </td></tr></tbody></table> <div class="mw-heading mw-heading3"><h3 id="Expansion_of_Fourfold_model:_Semi-Excludable">Expansion of Fourfold model: Semi-Excludable</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=12" title="Edit section: Expansion of Fourfold model: Semi-Excludable"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951" /><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Excludability#Semi-Excludable" title="Excludability">Excludability § Semi-Excludable</a></div> <p>The additional definition matrix shows the four common categories alongside providing some examples of fully excludable goods, Semi-excludable goods and fully non-excludeable goods. Semi-excludable goods can be considered goods or services that a mostly successful in excluding non-paying customer, but are still able to be consumed by non-paying consumers. An example of this is movies, books or video games that could be easily <a href="/wiki/Copyright_infringement" title="Copyright infringement">pirated</a> and shared for free. </p> <table class="wikitable"> <caption> </caption> <tbody><tr> <th> </th> <th>Fully Excludable </th> <th>Semi-Excludable </th> <th>Fully Non-Excludable </th></tr> <tr> <th>Rivalrous </th> <td><b><a href="/wiki/Private_good" title="Private good">Private Goods</a></b> <p>food, clothing, cars, parking spaces </p> </td> <td>Piracy of copyrighted goods <p>like movies, books, video games </p> </td> <td><b><a href="/wiki/Common-pool_resource" title="Common-pool resource">Common-pool Resources</a></b> <p>fish, timber, coal, <a href="/wiki/Free_public_transport" title="Free public transport">free public transport</a> </p> </td></tr> <tr> <th>Non-Rivalrous </th> <td><b><a href="/wiki/Club_good" title="Club good">Club Goods</a></b> <p>cinemas, private parks, television, <a href="/wiki/Public_transport" title="Public transport">public transport</a> </p> </td> <td>Sharing pay television or streaming subscriptions <p>to more users than what is being paid for </p> </td> <td><b><a href="/wiki/Public_good_(economics)" class="mw-redirect" title="Public good (economics)">Public Goods</a></b> <p>free-to-air, air, national defense, <a href="/wiki/Free_and_open-source_software" title="Free and open-source software">free and open-source software</a> </p> </td></tr></tbody></table> <div class="mw-heading mw-heading2"><h2 id="Trading_of_goods">Trading of goods</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=13" title="Edit section: Trading of goods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951" /><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Trade" title="Trade">Trade</a></div> <p>Goods are capable of being physically delivered to a <a href="/wiki/Consumer" title="Consumer">consumer</a>. Goods that are <i><a href="/wiki/Intangible_asset" title="Intangible asset">economic intangibles</a></i> can only be stored, delivered, and consumed by means of <a href="/wiki/Media_(communication)" class="mw-redirect" title="Media (communication)">media</a>. </p><p>Goods, both tangibles and intangibles, may involve the transfer of product <a href="/wiki/Ownership" title="Ownership">ownership</a> to the consumer. Services do not normally involve transfer of ownership of the service itself, but may involve transfer of ownership of goods developed or marketed by a service provider in the course of the service. For example, sale of storage related goods, which could consist of storage sheds, storage containers, storage buildings as tangibles or storage supplies such as boxes, bubble wrap, tape, bags and the like which are consumables, or distributing <a href="/wiki/Electricity" title="Electricity">electricity</a> among consumers is a service provided by an <a href="/wiki/Electric_utility" title="Electric utility">electric utility</a> company. This service can only be experienced through the consumption of <a href="/wiki/Electrical_energy" title="Electrical energy">electrical energy</a>, which is available in a variety of <a href="/wiki/Voltage" title="Voltage">voltages</a> and, in this case, is the <i>economic goods</i> produced by the electric utility company. While the service (namely, distribution of electrical energy) is a process that remains in its entirety in the ownership of the electric service provider, the goods (namely, electric energy) is the object of ownership transfer. The consumer becomes an electric energy owner by purchase and may use it for any lawful purposes just like any other goods. </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=14" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1184024115" /><div class="div-col"> <ul><li><a href="/wiki/Bad_(economics)" class="mw-redirect" title="Bad (economics)">Bad (economics)</a></li> <li><a href="/wiki/Commodification" title="Commodification">Commodification</a></li> <li><a href="/wiki/Fast-moving_consumer_goods" title="Fast-moving consumer goods">Fast-moving consumer goods</a></li> <li><a href="/wiki/Final_goods" class="mw-redirect" title="Final goods">Final goods</a></li> <li><a href="/wiki/Goods_and_services" title="Goods and services">Goods and services</a></li> <li><a href="/wiki/Intangible_asset" title="Intangible asset">Intangible asset</a></li> <li><a href="/wiki/Intangible_good" title="Intangible good">Intangible good</a></li> <li><a href="/wiki/List_of_economics_topics" class="mw-redirect" title="List of economics topics">List of economics topics</a></li> <li><a href="/wiki/Property" title="Property">Property</a> <ul><li><a href="/wiki/Tangible_property" title="Tangible property">Tangible property</a></li></ul></li> <li><a href="/wiki/Service_(economics)" title="Service (economics)">Service (economics)</a></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=15" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-:1-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-:1_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:1_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="/wiki/Alan_V._Deardorff" class="mw-redirect" title="Alan V. Deardorff">Alan V. Deardorff</a>, 2006. <i>Terms Of Trade: Glossary of International Economics</i>, World Scientific. Online version: Deardorffs' Glossary of International Economics, <a rel="nofollow" class="external text" href="http://www-personal.umich.edu/~alandear/glossary/g.html#good">"good"</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20130318101952/http://www-personal.umich.edu/~alandear/glossary/g.html">Archived</a> 2013-03-18 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> and <a rel="nofollow" class="external text" href="http://www-personal.umich.edu/~alandear/glossary/s.html#service">"service".</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170701120458/http://www-personal.umich.edu/~alandear/glossary/s.html">Archived</a> 2017-07-01 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFHarper" class="citation web cs1">Harper, Douglas. <a rel="nofollow" class="external text" href="https://www.etymonline.com/?term=goods">"goods"</a>. <i><a href="/wiki/Online_Etymology_Dictionary" class="mw-redirect" title="Online Etymology Dictionary">Online Etymology Dictionary</a></i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Online+Etymology+Dictionary&rft.atitle=goods&rft.aulast=Harper&rft.aufirst=Douglas&rft_id=https%3A%2F%2Fwww.etymonline.com%2F%3Fterm%3Dgoods&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFDwivedi2016" class="citation book cs1">Dwivedi, D. N. (2016). <i>Microeconomics: Theory and Applications</i>. Vikas Publishing House PVT LTD. p. 133. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-93259-8670-1" title="Special:BookSources/978-93259-8670-1"><bdi>978-93259-8670-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Microeconomics%3A+Theory+and+Applications&rft.pages=133&rft.pub=Vikas+Publishing+House+PVT+LTD&rft.date=2016&rft.isbn=978-93259-8670-1&rft.aulast=Dwivedi&rft.aufirst=D.+N.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-Samuelson-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-Samuelson_4-0">^</a></b></span> <span class="reference-text">Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill.</span> </li> <li id="cite_note-l066-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-l066_5-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://corporatefinanceinstitute.com/resources/economics/law-of-diminishing-marginal-utility/">"Law of Diminishing Marginal Utility"</a>. <i>Corporate Finance Institute</i>. 2023-11-22<span class="reference-accessdate">. Retrieved <span class="nowrap">2024-12-20</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Corporate+Finance+Institute&rft.atitle=Law+of+Diminishing+Marginal+Utility&rft.date=2023-11-22&rft_id=https%3A%2F%2Fcorporatefinanceinstitute.com%2Fresources%2Feconomics%2Flaw-of-diminishing-marginal-utility%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-e266-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-e266_6-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFSteedman1989" class="citation book cs1">Steedman, Ian (1989). "Free Goods". <i>General Equilibrium</i>. London: Palgrave Macmillan UK. p. 158–161. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-1-349-19802-3_17">10.1007/978-1-349-19802-3_17</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-333-49525-4" title="Special:BookSources/978-0-333-49525-4"><bdi>978-0-333-49525-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Free+Goods&rft.btitle=General+Equilibrium&rft.place=London&rft.pages=158-161&rft.pub=Palgrave+Macmillan+UK&rft.date=1989&rft_id=info%3Adoi%2F10.1007%2F978-1-349-19802-3_17&rft.isbn=978-0-333-49525-4&rft.aulast=Steedman&rft.aufirst=Ian&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text">Alan V. Deardorff, 2006, Deardorffs' Glossary of International Economics <a rel="nofollow" class="external text" href="http://www-personal.umich.edu/~alandear/glossary/c.html#commodity">"commodity".</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20071212072813/http://www-personal.umich.edu/~alandear/glossary/c.html">Archived</a> 2007-12-12 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-:0-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-:0_8-0">^</a></b></span> <span class="reference-text">Quotation from <a href="/wiki/Murray_Milgate" title="Murray Milgate">Murray Milgate</a>, 2008, "Goods and Commodities". In: Palgrave Macmillan (eds) The <a href="/wiki/New_Palgrave_Dictionary_of_Economics" class="mw-redirect" title="New Palgrave Dictionary of Economics">New Palgrave Dictionary of Economics</a>. Palgrave, Macmillan, London., in referencing an influential parallel definition of 'goods' by <a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Alfred Marshall</a>, 1891. <i><a href="/wiki/Principles_of_Economics_(Marshall)" class="mw-redirect" title="Principles of Economics (Marshall)">Principles of Economics</a></i>,1961, 9th ed. Section I, page 54, Macmillan.</span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFVarian2006" class="citation book cs1"><a href="/wiki/Hal_Varian" title="Hal Varian">Varian, Hal R.</a> (2006). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/intermediatemicr0000vari_k5h7"><i>Intermediate Microeconomics</i></a></span>. London: W.W. Norton & Company. p. 41.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Intermediate+Microeconomics&rft.place=London&rft.pages=41&rft.pub=W.W.+Norton+%26+Company&rft.date=2006&rft.aulast=Varian&rft.aufirst=Hal+R.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fintermediatemicr0000vari_k5h7&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFMankiw,_N._Gregory.2012" class="citation book cs1">Mankiw, N. Gregory. (2012). <i>Principles of microeconomics</i> (6th ed.). Mason, OH: South-Western Cengage Learning. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-538-45304-2" title="Special:BookSources/978-0-538-45304-2"><bdi>978-0-538-45304-2</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/742415439">742415439</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Principles+of+microeconomics&rft.place=Mason%2C+OH&rft.edition=6th&rft.pub=South-Western+Cengage+Learning&rft.date=2012&rft_id=info%3Aoclcnum%2F742415439&rft.isbn=978-0-538-45304-2&rft.au=Mankiw%2C+N.+Gregory.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFPekka_NikanderVille_ElorantaKimmo_KarhuKari_Hiekkanen2020" class="citation cs2">Pekka Nikander; Ville Eloranta; Kimmo Karhu; Kari Hiekkanen (2 June 2020), <a rel="nofollow" class="external text" href="https://research.aalto.fi/en/publications/digitalisation-anti-rival-compensation-and-governance-need-for-ex"><i>Digitalisation, anti-rival compensation and governance: Need for experiments</i></a>, <a href="/wiki/WDQ_(identifier)" class="mw-redirect" title="WDQ (identifier)">Wikidata</a> <a href="https://www.wikidata.org/wiki/Q106510738" class="extiw" title="d:Q106510738">Q106510738</a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Digitalisation%2C+anti-rival+compensation+and+governance%3A+Need+for+experiments&rft.date=2020-06-02&rft.au=Pekka+Nikander&rft.au=Ville+Eloranta&rft.au=Kimmo+Karhu&rft.au=Kari+Hiekkanen&rft_id=https%3A%2F%2Fresearch.aalto.fi%2Fen%2Fpublications%2Fdigitalisation-anti-rival-compensation-and-governance-need-for-ex&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span>.</span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFHubbardGarnettLewisO'Brien2018" class="citation book cs1">Hubbard, R.G; Garnett, A; Lewis, P; O'Brien, A (2018). <i>Essentials of Economics Ebook</i>. Australia: Pearson Education Australia. p. 351. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781488617003" title="Special:BookSources/9781488617003"><bdi>9781488617003</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Essentials+of+Economics+Ebook&rft.place=Australia&rft.pages=351&rft.pub=Pearson+Education+Australia&rft.date=2018&rft.isbn=9781488617003&rft.aulast=Hubbard&rft.aufirst=R.G&rft.au=Garnett%2C+A&rft.au=Lewis%2C+P&rft.au=O%27Brien%2C+A&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFPerloff2018" class="citation book cs1">Perloff, J (2018). <i>Microeconomics, Global Edition</i> (Eighth ed.). Pearson Education Limited. pp. <span class="nowrap">635–</span>636. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781292215693" title="Special:BookSources/9781292215693"><bdi>9781292215693</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Microeconomics%2C+Global+Edition&rft.pages=%3Cspan+class%3D%22nowrap%22%3E635-%3C%2Fspan%3E636&rft.edition=Eighth&rft.pub=Pearson+Education+Limited&rft.date=2018&rft.isbn=9781292215693&rft.aulast=Perloff&rft.aufirst=J&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFPerloff2018" class="citation book cs1">Perloff, J (2018). <i>Microeconomics, Global Edition</i> (Eighth ed.). Pearson Education Limited. p. 637. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781292215693" title="Special:BookSources/9781292215693"><bdi>9781292215693</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Microeconomics%2C+Global+Edition&rft.pages=637&rft.edition=Eighth&rft.pub=Pearson+Education+Limited&rft.date=2018&rft.isbn=9781292215693&rft.aulast=Perloff&rft.aufirst=J&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text">Ostrom, E. (2010). Beyond Markets and States : Polycentric Governance of Complex Economic Systems. American Economic Review, 100(June), 408–444. <a rel="nofollow" class="external free" href="https://doi.org/10.1080/19186444.2010.11658229">https://doi.org/10.1080/19186444.2010.11658229</a></span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFElinor2005" class="citation book cs1">Elinor, Ostrom (2005). <i>Understanding Institutional Diversity</i>. Princeton, NJ: Princeton University Press.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Understanding+Institutional+Diversity&rft.place=Princeton%2C+NJ&rft.pub=Princeton+University+Press&rft.date=2005&rft.aulast=Elinor&rft.aufirst=Ostrom&rfr_id=info%3Asid%2Fen.wikipedia.org%3AGoods" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=16" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Bannock, Graham <i>et al.</i> (1997). <i>Dictionary of Economics</i>, Penguin Books.</li> <li>Milgate, Murray (1987), "goods and commodities," <i><a href="/wiki/The_New_Palgrave:_A_Dictionary_of_Economics" class="mw-redirect" title="The New Palgrave: A Dictionary of Economics">The New Palgrave: A Dictionary of Economics</a></i>, v. 2, pp. 546–48. Includes historical and contemporary uses of the terms in economics.</li> <li>Vuaridel, R. (1968). Une définition des biens économiques. (A definition of economic goods). L'Année sociologique (1940/1948-), 19, 133–170. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/27887387">27887387</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Goods&action=edit&section=17" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Commons-logo.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/20px-Commons-logo.svg.png" decoding="async" width="12" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/40px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></a></span> Media related to <a href="https://commons.wikimedia.org/wiki/Category:Goods_(economics)" class="extiw" title="commons:Category:Goods (economics)">Goods (economics)</a> at Wikimedia Commons</li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374" /><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output .navbox,.mw-parser-output .navbox-subgroup{background-color:#fdfdfd}.mw-parser-output .navbox-list{line-height:1.5em;border-color:#fdfdfd}.mw-parser-output .navbox-list-with-group{text-align:left;border-left-width:2px;border-left-style:solid}.mw-parser-output tr+tr>.navbox-abovebelow,.mw-parser-output tr+tr>.navbox-group,.mw-parser-output tr+tr>.navbox-image,.mw-parser-output tr+tr>.navbox-list{border-top:2px solid #fdfdfd}.mw-parser-output .navbox-title{background-color:#ccf}.mw-parser-output .navbox-abovebelow,.mw-parser-output .navbox-group,.mw-parser-output .navbox-subgroup .navbox-title{background-color:#ddf}.mw-parser-output .navbox-subgroup .navbox-group,.mw-parser-output .navbox-subgroup .navbox-abovebelow{background-color:#e6e6ff}.mw-parser-output .navbox-even{background-color:#f7f7f7}.mw-parser-output .navbox-odd{background-color:transparent}.mw-parser-output .navbox .hlist td dl,.mw-parser-output .navbox .hlist td ol,.mw-parser-output .navbox .hlist td ul,.mw-parser-output .navbox td.hlist dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Types_of_goods18" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374" /><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231" /><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Types_of_goods" title="Template:Types of goods"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Types_of_goods" title="Template talk:Types of goods"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Types_of_goods" title="Special:EditPage/Template:Types of goods"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Types_of_goods18" style="font-size:114%;margin:0 4em">Types of <a class="mw-selflink selflink">goods</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Anti-rival_good" title="Anti-rival good">Anti-rival goods</a></li> <li><a href="/wiki/Capital_good" class="mw-redirect" title="Capital good">Capital goods</a></li> <li><a href="/wiki/Club_good" title="Club good">Club goods</a></li> <li><a href="/wiki/Common_good_(economics)" title="Common good (economics)">Common goods</a></li> <li><a href="/wiki/Common-pool_resource" title="Common-pool resource">Common-pool resource</a></li> <li><a href="/wiki/Complementary_good" title="Complementary good">Complementary goods</a> vs. <a href="/wiki/Substitute_good" title="Substitute good">Substitute goods</a> vs. <a href="/wiki/Independent_goods" title="Independent goods">Independent goods</a></li> <li><a href="/wiki/Composite_good" title="Composite good">Composite goods</a></li> <li><a href="/wiki/Credence_good" class="mw-redirect" title="Credence good">Credence goods</a></li> <li><a href="/wiki/Durable_good" title="Durable good">(Non-)durable goods</a></li> <li><a href="/wiki/Experience_good" class="mw-redirect" title="Experience good">(Post-)experience goods</a></li> <li><a href="/wiki/Final_good" title="Final good">Final goods</a></li> <li><a href="/wiki/Free_good" title="Free good">Free goods</a> vs. <a href="/wiki/Positional_good" title="Positional good">Positional goods</a></li> <li><a href="/wiki/Giffen_good" title="Giffen good">Giffen goods</a></li> <li><a href="/wiki/Global_commons" title="Global commons">Global commons</a></li> <li><a href="/wiki/Global_public_good" title="Global public good">Global public goods</a></li> <li><a href="/wiki/Inferior_good" title="Inferior good">Inferior goods</a></li> <li><a href="/wiki/Information_good" title="Information good">Information goods</a></li> <li><a href="/wiki/Intangible_good" title="Intangible good">Intangible goods</a></li> <li><a href="/wiki/Intermediate_good" title="Intermediate good">Intermediate goods</a></li> <li><a href="/wiki/Luxury_goods" title="Luxury goods">Luxury goods</a></li> <li><a href="/wiki/Merit_good" title="Merit good">Merit goods</a> and <a href="/wiki/Demerit_good" title="Demerit good">demerit goods</a></li> <li><a href="/wiki/Neutral_good" title="Neutral good">Neutral goods</a></li> <li><a href="/wiki/Normal_good" title="Normal good">Normal goods</a> <ul><li><a href="/wiki/Necessity_good" title="Necessity good">Necessity goods</a></li></ul></li> <li><a href="/wiki/Ordinary_good" title="Ordinary good">Ordinary goods</a></li> <li><a href="/wiki/Private_good" title="Private good">Private goods</a> <ul><li><a href="/wiki/Household_goods" title="Household goods">Household goods</a></li></ul></li> <li><a href="/wiki/Public_good_(economics)" class="mw-redirect" title="Public good (economics)">Public goods</a> <ul><li><a href="/wiki/Digital_public_goods" title="Digital public goods">Digital public goods</a></li></ul></li> <li><a href="/wiki/Rivalry_(economics)" title="Rivalry (economics)">(Non-)rivalrous goods</a> and <a href="/wiki/Excludability" title="Excludability">(Non-)excludable goods</a></li> <li><a href="/wiki/Search_good" class="mw-redirect" title="Search good">Search goods</a></li> <li><a href="/wiki/Superior_good" class="mw-redirect" title="Superior good">Superior goods</a></li> <li><a href="/wiki/Used_good" title="Used good">Used goods</a></li> <li><a href="/wiki/Veblen_good" title="Veblen good">Veblen goods</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374" /><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235" /></div><div role="navigation" class="navbox" aria-labelledby="Microeconomics291" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374" /><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231" /><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Microeconomics" title="Template:Microeconomics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Microeconomics" title="Template talk:Microeconomics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Microeconomics" title="Special:EditPage/Template:Microeconomics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Microeconomics291" style="font-size:114%;margin:0 4em"><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Major topics</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aggregation_problem" title="Aggregation problem">Aggregation</a></li> <li><a href="/wiki/Budget_set" title="Budget set">Budget set</a></li> <li><a href="/wiki/Consumer_choice" title="Consumer choice">Consumer choice</a></li> <li><a href="/wiki/Convexity_in_economics" title="Convexity in economics">Convexity</a> and <a href="/wiki/Non-convexity_(economics)" title="Non-convexity (economics)">non-convexity</a></li> <li><a href="/wiki/Economic_cost" title="Economic cost">Cost</a> <ul><li><a href="/wiki/Average_cost" title="Average cost">Average</a></li> <li><a href="/wiki/Marginal_cost" title="Marginal cost">Marginal</a></li> <li><a href="/wiki/Opportunity_cost" title="Opportunity cost">Opportunity</a> <ul><li><a href="/wiki/Implicit_cost" title="Implicit cost">Implicit</a></li></ul></li> <li><a href="/wiki/Social_cost" title="Social cost">Social</a></li> <li><a href="/wiki/Sunk_cost" title="Sunk cost">Sunk</a></li> <li><a href="/wiki/Transaction_cost" title="Transaction cost">Transaction</a></li></ul></li> <li><a href="/wiki/Cost%E2%80%93benefit_analysis" title="Cost–benefit analysis">Cost–benefit analysis</a></li> <li><a href="/wiki/Deadweight_loss" title="Deadweight loss">Deadweight loss</a></li> <li><a href="/wiki/Distribution_(economics)" title="Distribution (economics)">Distribution</a></li> <li><a href="/wiki/Economies_of_scale" title="Economies of scale">Economies of scale</a></li> <li><a href="/wiki/Economies_of_scope" title="Economies of scope">Economies of scope</a></li> <li><a href="/wiki/Elasticity_(economics)" title="Elasticity (economics)">Elasticity</a> <ul><li><a href="/wiki/Cross_elasticity_of_demand" title="Cross elasticity of demand">Cross elasticity of demand</a></li> <li><a href="/wiki/Income_elasticity_of_demand" title="Income elasticity of demand">Income elasticity of demand</a></li> <li><a href="/wiki/Price_elasticity_of_demand" title="Price elasticity of demand">Price elasticity of demand</a></li> <li><a href="/wiki/Price_elasticity_of_supply" title="Price elasticity of supply">Price elasticity of supply</a></li></ul></li> <li><a href="/wiki/Economic_equilibrium" title="Economic equilibrium">Equilibrium</a> <ul><li><a href="/wiki/General_equilibrium_theory" title="General equilibrium theory">General</a></li></ul></li> <li><a href="/wiki/Trade" title="Trade">Exchange</a></li> <li><a href="/wiki/Externality" title="Externality">Externality</a></li> <li><a href="/wiki/Theory_of_the_firm" title="Theory of the firm">Firms</a></li> <li><a href="/wiki/Goods_and_services" title="Goods and services">Goods and services</a> <ul><li><a class="mw-selflink selflink">Goods</a></li> <li><a href="/wiki/Service_(economics)" title="Service (economics)">Service</a></li></ul></li> <li><a href="/wiki/Family_economics" title="Family economics">Household</a></li> <li><a href="/wiki/Income%E2%80%93consumption_curve" title="Income–consumption curve">Income–consumption curve</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Indifference_curve" title="Indifference curve">Indifference curve</a></li> <li><a href="/wiki/Intertemporal_choice" title="Intertemporal choice">Intertemporal choice</a></li> <li><a href="/wiki/Market_(economics)" title="Market (economics)">Market</a></li> <li><a href="/wiki/Market_failure" title="Market failure">Market failure</a></li> <li><a href="/wiki/Market_structure" title="Market structure">Market structure</a> <ul><li><a href="/wiki/Competition_(economics)" title="Competition (economics)">Competition</a> <ul><li><a href="/wiki/Monopolistic_competition" title="Monopolistic competition">Monopolistic</a></li> <li><a href="/wiki/Perfect_competition" title="Perfect competition">Perfect</a></li></ul></li> <li><a href="/wiki/Duopoly" title="Duopoly">Duopoly</a></li> <li><a href="/wiki/Monopoly" title="Monopoly">Monopoly</a> <ul><li><a href="/wiki/Bilateral_monopoly" title="Bilateral monopoly">Bilateral</a></li> <li><a href="/wiki/Complementary_monopoly" title="Complementary monopoly">Complementary</a></li></ul></li> <li><a href="/wiki/Monopsony" title="Monopsony">Monopsony</a></li> <li><a href="/wiki/Oligopoly" title="Oligopoly">Oligopoly</a></li> <li><a href="/wiki/Oligopsony" title="Oligopsony">Oligopsony</a></li></ul></li> <li><a href="/wiki/Pareto_efficiency" title="Pareto efficiency">Pareto efficiency</a></li> <li><a href="/wiki/Preference_(economics)" title="Preference (economics)">Preferences</a></li> <li><a href="/wiki/Price" title="Price">Price</a> <ul><li><a href="/wiki/Price_controls" title="Price controls">Price controls</a></li> <li><a href="/wiki/Price_ceiling" title="Price ceiling">Price ceiling</a></li> <li><a href="/wiki/Price_floor" title="Price floor">Price floor</a></li> <li><a href="/wiki/Price_discrimination" title="Price discrimination">Price discrimination</a></li> <li><a href="/wiki/Price_signal" title="Price signal">Price signal</a></li> <li><a href="/wiki/Price_system" title="Price system">Price system</a>/<a href="/wiki/Free_price_system" title="Free price system">Free</a></li> <li><a href="/wiki/Pricing" title="Pricing">Pricing</a></li></ul></li> <li><a href="/wiki/Production_set" title="Production set">Production</a></li> <li><a href="/wiki/Profit_(economics)" title="Profit (economics)">Profit</a></li> <li><a href="/wiki/Public_good_(economics)" class="mw-redirect" title="Public good (economics)">Public goods</a></li> <li><a href="/wiki/Rationing" title="Rationing">Rationing</a></li> <li><a href="/wiki/Economic_rent" title="Economic rent">Rent</a></li> <li><a href="/wiki/Returns_to_scale" title="Returns to scale">Returns to scale</a></li> <li><a href="/wiki/Risk_aversion" title="Risk aversion">Risk aversion</a></li> <li><a href="/wiki/Scarcity" title="Scarcity">Scarcity</a></li> <li><a href="/wiki/Shortage" title="Shortage">Shortage</a>/<a href="/wiki/Excess_supply" title="Excess supply">Excess supply</a></li> <li><a href="/wiki/Substitution_effect" title="Substitution effect">Substitution effect</a></li> <li><a href="/wiki/Economic_surplus" title="Economic surplus">Surplus</a></li> <li><a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice</a></li> <li><a href="/wiki/Supply_and_demand" title="Supply and demand">Supply and demand</a> <ul><li><a href="/wiki/Demand" title="Demand">Demand</a>/<a href="/wiki/Law_of_demand" title="Law of demand">Law of demand</a></li> <li><a href="/wiki/Supply_(economics)" title="Supply (economics)">Supply</a>/<a href="/wiki/Law_of_supply" title="Law of supply">Law of supply</a></li></ul></li> <li><a href="/wiki/Uncertainty" title="Uncertainty">Uncertainty</a></li> <li><a href="/wiki/Utility" title="Utility">Utility</a> <ul><li><a href="/wiki/Expected_utility_hypothesis" title="Expected utility hypothesis">Expected</a></li> <li><a href="/wiki/Marginal_utility" title="Marginal utility">Marginal</a></li></ul></li> <li><a href="/wiki/Wage" title="Wage">Wage</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Subfields</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Statistical_decision_theory" class="mw-redirect" title="Statistical decision theory">Statistical decision theory</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering economics</a></li> <li><a href="/wiki/Engineering_economics_(civil_engineering)" title="Engineering economics (civil engineering)">Civil engineering economics</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Green_economy" title="Green economy">Green</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labor</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical</a></li> <li><a href="/wiki/Microfoundations" title="Microfoundations">Microfoundations of macroeconomics</a></li> <li><a href="/wiki/Operations_research" title="Operations research">Operations research</a></li> <li><a href="/wiki/Mathematical_optimization" title="Mathematical optimization">Optimization</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">See also</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economics" title="Economics">Economics</a> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li></ul></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/20px-Emblem-money.svg.png" decoding="async" width="15" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/40px-Emblem-money.svg.png 1.5x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Microeconomics" title="Category:Microeconomics">Category</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374" /><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235" /><style data-mw-deduplicate="TemplateStyles:r1066933788">.mw-parser-output .excerpt-hat .mw-editsection-like{font-style:normal}</style></div><div role="navigation" class="navbox" aria-labelledby="Economics681" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374" /><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231" /><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economics" title="Template:Economics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics" title="Template talk:Economics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics" title="Special:EditPage/Template:Economics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Economics681" style="font-size:114%;margin:0 4em"><a href="/wiki/Economics" title="Economics">Economics</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economics#Theoretical_research" title="Economics">Theoretical</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a> <ul><li><a href="/wiki/Decision_theory" title="Decision theory">Decision theory</a></li> <li><a href="/wiki/Price_theory" class="mw-redirect" title="Price theory">Price theory</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Contract_theory" title="Contract theory">Contract theory</a></li> <li><a href="/wiki/Mechanism_design" title="Mechanism design">Mechanism design</a></li></ul></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical economics</a></li> <li><a href="/wiki/Complexity_economics" title="Complexity economics">Complexity economics</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational economics</a> <ul><li><a href="/wiki/Agent-based_computational_economics" title="Agent-based computational economics">Agent-based computational economics</a></li></ul></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral economics</a></li> <li><a href="/wiki/Pluralism_in_economics" title="Pluralism in economics">Pluralism in economics</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economics#Empirical_research" title="Economics">Empirical</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a> <ul><li><a href="/wiki/Economic_statistics" title="Economic statistics">Economic statistics</a></li></ul></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental economics</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Economic history</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Agricultural_economics" title="Agricultural economics">Agriculture</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Cultural_economics" title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Geographic</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Health_economics" title="Health economics">Health</a></li> <li><a href="/wiki/Economic_history" title="Economic history">History</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Infrastructure_and_economics" title="Infrastructure and economics">Infrastructure</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutions</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Management</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organization</a></li> <li><a href="/wiki/Economics_of_participation" title="Economics of participation">Participation</a></li> <li><a href="/wiki/Personnel_economics" title="Personnel economics">Personnel</a></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a></li> <li><a href="/wiki/Economic_policy" title="Economic policy">Policy</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public sector</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a></li> <li><a href="/wiki/Social_choice" class="mw-redirect" title="Social choice">Social choice</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Regulatory_economics" title="Regulatory economics">Regulatory</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Resources</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Transport_economics" title="Transport economics">Transport</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a><br />(<a href="/wiki/History_of_economic_thought" title="History of economic thought">history</a>)<br /></div></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Attention_economy" title="Attention economy">Attention</a></li> <li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/American_School_(economics)" title="American School (economics)">American (National)</a></li> <li><a href="/wiki/Ancient_economic_thought" title="Ancient economic thought">Ancient thought</a></li> <li><a href="/wiki/Anarchist_economics" class="mw-redirect" title="Anarchist economics">Anarchist</a> <ul><li><a href="/wiki/Mutualism_(economic_theory)" title="Mutualism (economic theory)">Mutualism</a></li></ul></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Buddhist_economics" title="Buddhist economics">Buddhist</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_monetary_theory" title="Modern monetary theory">Modern monetary theory</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Economic_democracy" title="Economic democracy">Democratic</a></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgism</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Historical_school_of_economics" title="Historical school of economics">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a> (<a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">neoclassical–Keynesian synthesis</a>)</li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li></ul></li></ul></li> <li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusianism</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxian</a> <ul><li><a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-</a></li></ul></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Mixed_economy" title="Mixed economy">Mixed</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a> <ul><li><a href="/wiki/Lausanne_School" title="Lausanne School">Lausanne</a></li></ul></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocracy</a></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist</a></li> <li><a href="/wiki/Stockholm_School_(economics)" title="Stockholm School (economics)">Stockholm</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/Thermoeconomics" title="Thermoeconomics">Thermo</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Economist" title="Economist">Economists</a><br /></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. 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