Question

What do you mean by existing goods?

Answer 1

Answer:

Existing goods are goods that physically exist and belong to the seller at the time of contract of sale. ... For example, a seller may agree to sell a buyer one out of a number of items of the same type (e.g., bags of sugar) without defining which specific item the buyer will receive.

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Answer 2

Existing goods are the goods that are already present with the manufacturers.

Explanation:

• There are different categories of goods in terms of economics.
• Existing goods are the ones which have a very regular demand in the market.
• These goods generally fall under the category of necessary goods.
• Existing goods are available in the stocks and are ready for supply to the customers upon demand.
• Examples of existing goods include inventory of the products with factories.