Written by the Fiveable Content Team • Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 exam•Written by the Fiveable Content Team • Last updated September 2025
Definition
Products refer to tangible items that are produced or manufactured for sale to consumers.
Related terms
Goods: Goods are physical objects that satisfy people's wants or needs. They are typically tangible products that can be bought or sold.
Consumer Goods: Consumer goods are products purchased by individuals for personal use rather than for resale purposes.
Product Development: Product development involves the creation or improvement of new products through research, design, testing, and manufacturing processes.