"This wine is good."
Translation:Ce vin est bon.
Strictly speaking, I would not use "le" to mean "this", in a translation exercise.
However, in real life, context could make it relevant. If you're in a restaurant with friends, tasting the wine the waiter has brought and commenting on its taste, "le vin" or "ce vin" would be interchangeable.
"Bien" is an adverb
"Bon, bonne, bons, bonnes" is an adjective.
After the verb "être", "bien" and "bon" have a different meaning:
- le vin est bien = this does not describe its taste but its color, temperature or other aspect.
- le vin est bon = this describes its taste only.