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The Universe is all of space and time (spacetime) and its contents, which including planets, moons, minor planets, stars, galaxies, the contents of intergalactic space and all matter and energy. The size of the entire Universe is still unknown.
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In economics, any commodity which is produced and subsequently consumed by the consumer, to satisfy his current wants or needs, is a consumer good or final good. Consumer goods are goods that are ultimately consumed rather than used in the production of another good. For example, a microwave oven or a bicycle which is sold to a consumer is a final good or consumer good, whereas the components which are sold to be used in those goods are called intermediate goods. For example, textiles or transistors which can be used to make some further goods. When used in measures of national income and output, the term 'final goods' only includes new goods. For instance, the GDP excludes items counted in an earlier year to prevent double counting of production based on resales of the same item second and third hand. In this context the economic definition of goods includes what are commonly known as services. Toggle News



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