Search results
Results from the WOW.Com Content Network
A car is a durable good. The gasoline that powers it is a non-durable (or consumable) good.. In economics, a durable good or a hard good or consumer durable is a good that does not quickly wear out or, more specifically, one that yields utility over time rather than being completely consumed in one use.
Consumables (also known as consumable goods, non-durable goods, or soft goods) are goods that are intended to be consumed. People have, for example, always consumed food and water. Consumables are in contrast to durable goods. Disposable products are a particular, extreme case of consumables, because their end-of-life is reached after a single use.
Durable goods: motor vehicles and parts, furnishings and durable household equipment, recreational goods and vehicles, and other durable goods. Nondurable goods: food and beverages purchased for off-premises consumption, clothing and footwear, gasoline and other energy goods, and other nondurable goods.
A hammer is a durable rival good. One person's use of the hammer prevents others from using the hammer at the same time. However, the first user does not "use up" the hammer, meaning that some rival goods can still be shared through time. An apple is a nondurable rival good: once an apple is eaten, it is "used up" and can no longer be eaten by ...
Consumer nondurable goods are purchased for immediate use or for use very soon. Generally, the lifespan of nondurable goods is from a few minutes to up to three years: food, beverages, clothing, shoes and gasoline are examples. In everyday language, nondurable goods get consumed or "used up". Consumer services are intangible in nature.
In economics, goods are anything that is good, in the sense of providing welfare or utility to someone. [1] [2] Goods can be contrasted with bads, i.e. things that provide negative value for users, like chores or waste.
Product durability is predicated by good repairability and regenerability in conjunction with maintenance. [3] Every durable product must be capable of adapting to technical, technological and design developments. [3]
As a result of this definition, assets only have positive future prices. This is analogous to the distinction between consumer durables and non-durables. Durables last more than one year. A classic durable is an automobile. A classic non-durable is an apple, which is eaten and lasts less than one year.