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Once a durable-good manufacturer sells a product to a consumer, it faces a challenge to convince this consumer to purchase another good. A consumer needs one refrigerator, one razor, a limited number of shirts, and so forth. Durability, therefore, may mean limited prospects for businesses.
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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.
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] This must be accompanied by a willingness on the part of consumers to forgo having the "very latest" version of a product.
Orders for durable goods, items ranging from toasters to aircraft meant to last three years or more, rose 1.4% last month, the Commerce Department's Census Bureau said.
Final goods can be classified into the following categories: Durable goods; Nondurable goods; Services; Consumer durable goods usually have a significant lifespan, which tends to be at least one year, based on the guarantee or warranty period. The maximum life depends upon the durability of the product or goods. Examples include tools, cars ...
Economists polled by Reuters had forecast durable goods orders tumbling 4.5%. Orders fell 0.8% year-on-year in January. Civilian aircraft orders plummeted 58.9% last month after rising 1.0% in ...