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economic good

Line breaks: eco|nom¦ic good

Definition of economic good in English:

noun

Economics
A product or service which can command a price when sold.
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:

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