Orders of goods
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Economic goods (and services) are of different orders, depending on how far they are removed from their final production as a consumer's good (or service).
Goods of the first or lowest order are goods ready for consumption by the final user (consumers' goods). Goods of the second order are producers' goods or factors of production which are one stage removed from being consumers' goods. Goods of the third order are two stages removed from consumers' goods and so on. Producers' goods and factors of production are referred to as "goods of the higher orders," or, when appropriate, "goods of the highest order."[1]
References
- ↑ Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-07-15.
