Here are some quality abbreviations that have been used:

Fine Fine. Generally the book or dustwrapper is in near perfect condition.

Very Good Very Good. The book has no faults apart from slight foxing or fading. The dustwrapper is clean but with slight rubbing and/or a minor chip or two on corners.

Good Good. Obvious that the book is secondhand but will be complete in all respects. Dustwrapper fairly clean but suffering from marks, slight creasing or other signs of wear.

Black and White Black and White.