Definition of economic good in English:

noun

• A product or service which 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.’
  • ‘For in the economic sense it also includes purchase and sale, and all partial transfers of economic goods (tenancy, rental, lending, etc.) for compensation.’
  • ‘They are treating water as an economic good, where it will be governed by market principles and put on the market to the highest bidder.’