producer goods

producer goods
goods, as machinery, raw materials, etc., that are used in the process of creating consumer goods.
[1950-55]

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or capital goods or intermediate goods

Goods manufactured and used in further manufacturing, processing, or resale.

Intermediate goods either become part of the final product or lose their distinct identity in the manufacturing stream, while capital goods are the plant, equipment, and inventories used to produce final products. The contribution of intermediate goods to a country's gross domestic product may be determined through the value-added method, which calculates the amount of value added to the final consumer good at each stage of production. This series of values is summed to estimate the total value of the final product.

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also called  intermediate goods 

      in economics, goods manufactured and used in further manufacturing, processing, or resale. Producer goods either become part of the final product or lose their distinct identity in the manufacturing stream. The prices of producer goods are not included in the summation of a country's gross national product (GNP), because their inclusion would involve double counting of costs and lead to an exaggerated estimate of GNP. Only the price of final consumer goods is included in the GNP. The contribution of producer goods to the GNP may be determined through the value-added method. This method calculates the amount of value added to the final consumer good by each stage of the production process. When the values added at all stages of production have been established, they are summed to estimate the total value of the final product.

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Universalium. 2010.

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Look at other dictionaries:

  • producer goods — n. goods, such as raw materials and machines, that are used in producing other goods: also producers goods …   English World dictionary

  • producer goods — see good 2 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • producer goods — UK US noun [plural] PRODUCTION ► CAPITAL GOODS(Cf. ↑capital goods) …   Financial and business terms

  • producer goods — noun plural : goods (as tools and raw material) that are factors in the production of other goods and that satisfy wants only indirectly called also auxiliary goods, instrumental goods, intermediate goods; compare consumer goods * * * Econ. goods …   Useful english dictionary

  • producer goods — produc′er goods n. pl. bus goods, as machinery or raw materials, that are used in the process of creating consumer goods • Etymology: 1950–55 …   From formal English to slang

  • producer goods — noun plural Date: 1948 goods (as tools and raw materials) used to produce other goods and satisfy human wants only indirectly …   New Collegiate Dictionary

  • producer goods — /prəˈdjusə gʊdz/ (say pruh dyoohsuh goodz) plural noun goods that are used in the process of creating final consumer goods, as machinery, raw materials, etc …  

  • producer goods — UK / US noun [plural] business materials, equipment, and other goods that are used to make a product that is sold to customers …   English dictionary

  • goods — [goodz] pl.n. 1. movable personal property 2. merchandise; wares 3. fabric; cloth 4. Brit. freight: usually used attributively ☆ deliver the goods Informal to do or produce …   Universalium

  • Producer's goods — Pro*duc er s goods (Polit. Econ.) Goods that satisfy wants only indirectly as factors in the production of other goods, such as tools and raw material; called also {instrumental goods}, {auxiliary goods}, {intermediate goods}, or {goods of the… …   The Collaborative International Dictionary of English

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