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Durability is the ability of a physical product to remain functional, without requiring excessive maintenance or repair, when faced with the challenges of normal operation over its design lifetime. [ 1 ] : 5 There are several measures of durability in use, including years of life, hours of use, and number of operational cycles. [ 2 ]
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.
Durable goods (e.g., automobiles, heavy machinery, mainframe computers, musical instruments, handguns, water heaters, furnaces) are designed with wear parts that are maintained generally by replacement of parts. One way to determine if a good is durable or not is whether a service technician or repairman would
The Lindy effect (also known as Lindy's law [1]) is a theorized phenomenon by which the future life expectancy of some non-perishable things, like a technology or an idea, is proportional to their current age. Thus, the Lindy effect proposes the longer a period something has survived to exist or be used in the present, the longer its remaining ...
Durability measures the length of a product’s life. When the product can be repaired, estimating durability is more complicated. As well The item will be used until it is no longer economical to operate it. This happens when the repair rate and the associated costs increase significantly.
The strategy of contrived durability is generally not prohibited by law, and manufacturers are free to set the durability level of their products. [4] While often considered planned obsolescence, it is often argued as its own field of anti-customer practices.
To overcome the durability problem, durable good manufacturers must persuade consumers to replace functioning products with new ones or to pay them money in other ways. Replacement of functioning goods refers to business strategies that persuade or force consumers to purchase new products.
It is also different from product economic life which refers to the point where maintaining a product is more expensive than replacing it; [2] from product technical life which refers to the maximum period during which a product has the physical capacity to function; [3] and from the functional life which is the time a product should last ...