'goods-based' originates from the English word 'goods,' which refers to tangible products, combined with 'based,' indicating a foundation or reliance on something.

'Goods' comes from the Old English word 'gōd,' meaning 'property' or 'possessions,' while 'based' is derived from the Middle English 'basen,' meaning 'to establish.'

Initially, 'goods' referred to any kind of property or possessions, but over time it has come to specifically mean tangible products.