This section included standards and contractual specification for commodities:
Cereals: Wheat, Rice, Rye, Oats, Barley, Corn, Millet, Sorghum, Buckwheat, Amaranth.
Foodstuff: Coriander Seeds: Coriander Seeds Whole (Coriandrum sativum L.); Coriander Seeds Split (Coriandrum sativum L.)
- Milk Powder: Skimmed Milk Powder; Full Cream Milk Powder
- Unhulled Millet
- Sugar: Raw Cane Sugar - ICUMSA 600/1200 RBU; VHP (Very High Polarization); Refined Cane Sugar - ICUMSA 45 RBU
- Wheat flour Grades (USA, Turkey, Ukrainian, Russian)
Feed-stuff: bran, meal, cake, ...
Oilseeds: sunflower, rapeseeds, ...
Pulses: Peas, Chickpea, Vetch, Bean (Dry beans, Kidney bean, haricot bean, pinto bean, navy bean, Lima bean, butter bean, Azuki bean, adzuki bean (Vigna angularis), Mung bean, golden gram, green gram (Vigna radiata), Black gram, Urad (Vigna mungo), Scarlet runner bean (Phaseolus coccineus), Ricebean (Vigna umbellata), Moth bean (Vigna acontifolia), Tepary bean (Phaseolus acutifolius).
Vegoils: sunflower oil, rapeseeds oil, ...
Goods - Commoditities (economics)
A good in economics is any object, service or right that increases utility, directly or indirectly, not to be confused with the adjective good, as used in a moral or ethical sense (see Utilitarianism and Consequentialism). A good that cannot be used by consumers directly, such as an office building or capital equipment, can also be referred to as a good as an indirect source of utility through resale value or as a source of income.
In macroeconomics and accounting, a good is contrasted with a service. A good here is defined as a physical (tangible) product, capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer, say an apple, as opposed to an (intangible) service, say a haircut. A more general term that preserves the distinction between goods and services is 'commodities'. In microeconomics, a good is often used in this more inclusive sense of the word.
Utility characteristics of goods
A good is an object whose consumption increases the utility of the consumer, for which the quantity demanded exceeds the quantity supplied at zero price. Goods are usually modeled as having diminishing marginal utility. The first car an individual purchases is very valuable; the fourth is much less useful. Thus, in these and similar goods, the marginal utility of additional units approaches zero, as the quantity consumed increases. Assuming that one cannot re-sell it, there is a point at which a consumer would decline to purchase an additional car, even at a price very near zero. This margin of utility is the consumer's satiation point.
In some cases, such as the above example of a car, the lower limit of utility as quantity increases is zero. In other goods, the utility of a good can cross zero, changing from positive to negative through time. This means that what initially is a good can become bad if too much of it is consumed. For example, shots of vodka can have positive utility, but beyond some point, additional units make the consumer less happy.
Some things are useful, but not scarce enough to have monetary value, such as the Earth's atmosphere, these are referred to as free goods.
In economics, a bad is the opposite of a good. Ultimately, whether an object is a good or a bad depends on each individual consumer and therefore, it is important to realize that not all goods are good all the time and not all goods are goods to all people.
A technical standard is an established norm or requirement. It is usually a formal document that establishes uniform engineering or technical criteria, methods, processes and practices.
A technical standard can also be a controlled artifact or similar formal means used for calibration. Reference Standards and certified reference materials have an assigned value by direct comparison with a reference base. A primary standard is usually under the jurisdiction of a national standards body. Secondary, tertiary, check standards and standard materials may be used for reference in a metrology system. A key requirement in this case is (metrological) traceability, an unbroken paper trail of calibrations back to the primary standard.
This article discusses formal technical standards. In contrast, a custom, convention, company product, corporate standard, etc which becomes generally accepted and dominant is often called a de facto standard.
A technical standard may be developed privately or unilaterally, for example by a corporation, regulatory body, military, etc. Standards can also be developed by groups such as trade unions, and trade associations. Standards organizations often have more diverse input and usually develop voluntary standards: these might become mandatory if adopted by a government, business contract, etc.
The standardization process may be by edict or may involve the formal consensus of technical experts.
Types of Standards
The primary types of technical standards are:
- A standard specification is an explicit set of requirements for an item, material, component, system or service. It is often used to formalize the technical aspects of a procurement agreement or contract. For example, there may be a specification for a turbine blade for a jet engine which defines the exact material and performance requirements.
- A standard test method describes a definitive procedure which produces a test result. It may involve making a careful personal observation or conducting a highly technical measurement. For example, a physical property of a material is often affected by the precise method of testing: any reference to the property should therefore reference the test method used.
- A standard practice or procedure gives a set of instructions for performing operations or functions. For example, there are detailed standard operating procedures for operation of a nuclear power plant.
- A standard guide is general information or options which do not require a specific course of action.
- A standard definition is formally established terminology.
- Standard units, in physics and applied mathematics, are commonly accepted measurements of physical quantities.
The existence of a published standard does not imply that it is always useful or correct. For example, if an item complies with a certain standard, there is not necessarily assurance that it is fit for any particular use. The people who use the item or service (engineers, trade unions, etc) or specify it (building codes, government, industry, etc) have the responsibility to consider the available standards, specify the correct one, enforce compliance, and use the item correctly. Validation of suitability is necessary.
Standards often get reviewed, revised and updated. It is critical that the most current version of a published standard be used or referenced. The originator or standard writing body often has the current versions listed on its web site.