Goods are material items or products that customers will buy to satisfy a want or need.
- In economics, goods are those that fulfill human needs and offer usefulness, such as to a customer buying a pleasant product. It is usual practice to distinguish between transferable products and non-transferable services.
- In order to live our daily lives, we need goods. We cannot survive without them. However, corporations create them to help us more easily meet our needs and desires. They gain money by doing this.
- The total sum that your company spent on expenses directly associated with the selling of goods is known as the cost of goods sold. Depending on the nature of your firm, this could also include raw materials, packaging, direct labor involved in making or selling the product, and items bought for resale.
Thus this is the answer.
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