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Dry goods is a historic term describing the type of product line a store carries, which differs by region. The term comes from the textile trade, and the shops appear to have spread with the mercantile trade across the British Empire (and former British territories ) as a means of bringing supplies and manufactured goods to far-flung ...
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.
Economics focuses on the study of economic goods, or goods that are scarce; in other words, producing the good requires expending effort or resources. Economic goods contrast with free goods such as air, for which there is an unlimited supply.
A good in economics is any object, service or right that increases utility, directly or indirectly. A good that cannot be used by consumers directly, such as an "office building" or "capital equipment", can also be referred to as a good as an indirect source of utility through resale value or as a source of income.
In an unregulated market, prices of credence goods tend to converge, i.e. the same flat rate is charged for high and low value goods. The reason is that suppliers of credence goods tend to overcharge for low value goods, since the customers are not aware of the low value, while competitive pressures force down the price of high value goods. [6]
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.
WASHINGTON ― President-elect Donald Trump on Tuesday repeatedly declined to rule out involving the U.S. military to carry out his ambitions for the U.S. to acquire Greenland and the Panama Canal ...
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 .