Used goods
From Wikipedia, the free encyclopedia
A used good is one that is not new or a resource that has been partially or completely depleted. When a person gives an item of some value that they have used to someone else, typically an acquaintance or family member, it is sometimes referred to as a "hand-me-down".
Used items can often be found for sale in thrift stores and pawnshops, as well as Internet auction sites. Some stores will take used items in exchange for credit toward the purchase of newer goods. The strategy of buying used items is sometimes employed to save money, as they are typically worth less than the equivalent new items. Purchasing used items for reuse may also prevent them from becoming waste.
It is believed that the phrase hand-me-down may have originated in London's East End markets in the 18th century. Vendors would typically keep their new, more expensive clothing at street level, while keeping their older, used clothing on racks that were elevated out of reach. To purchase the latter, buyers would have to ask the stall owner to "hand me down" a particular piece of clothing.
[edit] Used cars
Used cars are especially notable for depreciating in value much faster than many other items. Used cars may have been bought or leased by their previous user, and may be purchased directly from the previous owner or through a dealer. George Akerlof published a paper entitled "The Market for Lemons", examining the effects of information asymmetry on the used car market. Used cars may require more maintenance or have fewer features than later equivalent models.
[edit] Used clothes
Used clothes are often donated to charities which sort and distribute them for free or a reduced price in poorer areas. Used clothes unsuitable for sale in America or Eastern Europe may still find a buyer in Africa or another continent. Occasionally used clothing is sold on the Internet. In particular, the auction website eBay has a policy stating that used garments must be completely clean before being listed for sale, and listings for underwear are not allowed at all.[1]
