A product or service that can command a price when sold: water is an economic good and should be treated as such
More example sentences
- The entire sum of economic goods at an economizing individual's command we will, on the other hand, call his wealth.
- A spate of rulings by the World Trade Organization, the International Monetary Fund, and the World Bank treat water as an economic good.
- The classical liberals answered that the competition of businessmen will supply the markets with the economic goods needed by consumers.
Definition of economic good in:
- The British & World English dictionary