“In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.” NeedsUseCommonShade Book:Principles of Economics: An Introductory Volume Source: Principles of Economics: An Introductory Volume
“It is common to distinguish necessaries, comforts, and luxuries; the first class including all things required to meet wants which must be satisfied, while the latter consist of things that meet wants of a less urgent character.” WantFirstsCharacterCommonClassComfortAll ThingsIncludingSatisfiedLuxuryLatterUrgentFirst Class Book:Principles of Economics Source: Principles of Economics
“In the absence of any short term in common use to represent all desirable things, or things that satisfy human wants, we may use the term Goods for that purpose.” WantHumansMayUsePurposeTermCommonAbsenceGoodsDesirableShort Term Book:Principles of Economics: Unabridged Eighth Edition Source: Principles of Economics: Unabridged Eighth Edition
