An economic goods is described as a good which

An economic good is described as a good that yields utility and commands a price. An economic good is any product or service that people want or need and is limited in supply, meaning that there is a price associated with it. The concept of utility refers to the satisfaction or benefit that a person derives from consuming or using the product or service. For example, food, clothing, and housing are all examples of economic goods because they are useful to people and they are limited in supply, meaning that people must pay a price to acquire them. In contrast, goods that have an unlimited supply, such as air or sunlight, are not considered economic goods because they are not limited in supply and do not command a price.