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Fast-moving consumer goods (FMCG), also known as consumer packaged goods (CPG) [1] or convenience goods, are products that are sold quickly and at a relatively low cost. Examples include non-durable household goods such as packaged foods, beverages, toiletries, candies, cosmetics, over-the-counter drugs, dry goods, and other consumables. [2] [3 ...
Convenient procedures, products and services are those intended to increase ease in accessibility, save resources (such as time, effort [1] and energy) and decrease frustration. A modern convenience is a labor-saving device, service or substance which make a task easier or more efficient than a traditional method. Convenience is a relative ...
Following the war, several commercial food companies had leftover manufacturing facilities, and some of these companies created new freeze-dried and canned foods for home use. [10] Like many product introductions, not all were successful—convenience food staples such as fish sticks and canned peaches were counterbalanced by failures such as ...
choices made in such “hot” visceral states are not always rational, as dictated by economic theory. For example, David M. Cutler and colleagues (2003) investigate whether or not the increase in caloric intake over time could be seen as simply a rational response to the lowered
They may be defined either as goods that are immediately consumed in one use or ones that have a lifespan of less than three years. Examples of nondurable goods include fast-moving consumer goods such as food, cosmetics, cleaning products, medication, clothing, packaging and fuel. While durable goods can usually be rented as well as bought ...
In economics, inferior goods are those goods the demand for which falls with increase in income of the consumer. So, there is an inverse relationship between income of the consumer and the demand for inferior goods. [1] There are many examples of inferior goods, including cheap cars, public transit options, payday lending, and
In retail economics and geography, comparison goods are products which are usually higher value [1] and purchased infrequently, such as vehicles, household goods or clothing. [1] [2] Consumers tend to compare products before purchasing them to maximise value and quality.
For example, gross domestic product (GDP) excludes items counted in an earlier year to prevent double counting based on resale of items. In that context, the economic definition of goods also includes what are commonly known as services. A microwave oven, c. 2005: an example of a final good or consumer good