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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.
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 ...
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.
A key component of core retail spending, durable goods are also used in the Consumer Price Index (CPI). The CPI is an important indicator that tells economists about the rate of inflation, as well ...
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 ...
A consumer good or "final good" is any item that is ultimately consumed, rather than used in the production of another good. For example, a microwave oven or a bicycle that is sold to a consumer is a final good or consumer good, but the components that are sold to be used in those goods are intermediate goods.
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]
Once the consumer is well educated about the product, the good goes on to become a sought good. For example: A new smartphone with exclusive features is an unsought good until the consumer hears about it. Once the smartphone is widely known among customers, it becomes a sought good. A classic example here is the Apple iPhone. Consumers are ...