Consumer Goods 2020-02-12 08:00:00

Consumer Goods

Consumer goods are items purchased by consumers for final consumption. These are goods that have reached the end of the manufacturing process and are not resold. The consumers, rather than another manufacturer, is the final buyer of the good.

Consumer goods are classified as durable (useful for longer than 3 years). These are goods such as refrigerators, ovens, furniture, and cars. Durable goods are considered necessities and purchased regardless of current economic conditions. The other type of consumer good is nondurable (useful for less than 3 years). This also includes pure services (consumed at the same time they are produced). Examples include clothes, food, gasoline, and oil.

 


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