Copyright © Philip M. Parker, INSEAD. Terms of Use.
Definition: FREE GOODS |
FREE GOODS1. Goods admitted into a country free of duty. |
(From Wikipedia, the free Encyclopedia)
The free good is a term used in economics to describe a good that is not scarce. A free good is available in as great a quantity as desired with zero opportunity cost to society.A good that is made available at zero price is not necessarily a free good. For example, a shop might give away its stock in its promotion, but producing these goods would still have required the use of scarce resources, so this would not be a free good in an economic sense.
There are three main types of free goods:
Intellectual property laws have the effect of converting these goods to scarce goods by law. Although these goods are free goods (in the economic sense) once they have been produced, they do require scarce resources, such as skilled manpower, to create them in the first place. Thus intellectual property laws such as copyrights and patents are sometimes used to give exclusive rights to the creators of such "intellectual property" in order to encourage resources to be appropriately allocated to these activities.
- Resources that are so abundant in nature that there is enough for everyone to have as much as they want. An example of this is the air that we breathe.
- Resources that are jointly produced. Here the free good is produced as a byproduct of something more valuable. Waste products from factories and homes, such as discarded packaging, are often free goods.
- Ideas and works that are reproducible at zero cost, or almost zero cost. For example, if someone invents a new device, many people could copy this invention, with no danger of this "resource" running out. Other examples include computer programs and web pages.
Source: adapted by the editor from Wikipedia, the free encyclopedia under a copyleft GNU Free Documentation License (GFDL) from the article "Free good."
| Subject | Topic | Quote |
Trade | Bahamas | Higher stamp taxes are charged on some duty free goods, including tourist items such as china, crystal, wristwatches, clocks, jewelry, table linens, leather goods, perfume, wine and liquor. (references) |
Yemen | Yeminvest launched phase two, which calls for developing 30 hectares for an industrial and warehousing estate in April 2000. In addition, a free zone is in the planning stages for the Aden International Airport in order to facilitate the transit of duty free goods between air and sea shipments. (references) | |
Source: compiled by the editor from ICON Group International, Inc.; see credits. | ||
| The following statistics estimate the number of searches per day across the major English-language search engines as identified by various trade publications. Hyperlinks lead to commercial use of the expression at Amazon.com. |
| Expression | Frequency per Day |
dangerous declaration form free goods | 2 |
| Source: compiled by the editor from various references; see credits. | |
| Language | Translations for "FREE GOODS"; alternative meanings/domain in parentheses. | |
Danish | frie goder. (various references) | |
Dutch | vrije goederen. (various references) | |
French | marchandises libres, biens naturels, biens libres, biens gratuits. (various references) | |
German | freie Güter. (various references) | |
Greek | ελεύθερα αγαθά. (various references) | |
Italian | beni liberi. (various references) | |
Pig Latin | eefray oodsgay.(various references) | |
Portuguese | bens livres. (various references) | |
Spanish | bienes libres. (various references) | |
| Source: compiled by the editor from various translation references. | ||
Scrabble® Enable2K-Verified Anagrams | |
| Words within the letters "d-e-e-f-g-o-o-r-s" | |
-1 letter: foredoes, foregoes. | |
-2 letters: fordoes, forgoes. | |
-3 letters: defers, defogs, edgers, erodes, foredo, forego, forged, forges, geodes, gofers, goofed, goosed, greeds, redoes, rodeos, roofed, roosed. | |
-4 letters: deers, defer, defog, doers, doges, doors, doser, drees, dregs, edger, edges, egers, erode, erose, feeds, feods, feres, foods, fordo, fords, fores, forge, forgo, freed, frees, froes, frogs, geode, goers, gofer. | |
| Words containing the letters "d-e-e-f-g-o-o-r-s" | |
+5 letters: bourgeoisified, forebodingness, foreknowledges. | |
| Source: compiled by the editor from various references; see credits. SCRABBLE® is a registered trademark. All intellectual property rights in and to the game are owned in the U.S.A and Canada by Hasbro Inc., and throughout the rest of the world by J.W. Spear & Sons Limited of Maidenhead, Berkshire, England, a subsidiary of Mattel Inc. Mattel and Spear are not affiliated with Hasbro. | |
| 1. Definition 2. Quotations: Non-fiction 3. Expressions: Internet 4. Translations: Modern | 5. Anagrams 6. Bibliography |
Copyright © Philip M. Parker, INSEAD. Terms of Use.
