Durable Good
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A Durable Good is an economic good that ...
- Example(s):
- Household's Automobile.
- Home Appliance, sjuch as a Home Refrigerator.
- …
- Counter-Example(s):
- See: Cosmetics, Good (Economics), Utility, Consumption (Economics), Books, Household Goods.
References
2018
- (Wikipedia, 2018) ⇒ https://en.wikipedia.org/wiki/durable_good Retrieved:2018-1-24.
- In economics, a durable good or a hard good 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. Items like bricks could be considered perfectly durable goods because they should theoretically never wear out. Highly durable goods such as refrigerators or cars usually continue to be useful for three or more years of use, so durable goods are typically characterized by long periods between successive purchases.
Examples of consumer durable goods include automobiles, books, household goods (home appliances, consumer electronics, furniture, tools, etc.), sports equipment, jewelry, medical equipment, firearms, and toys.
Nondurable goods or soft goods (consumables) are the opposite of durable goods. 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. …
- In economics, a durable good or a hard good 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. Items like bricks could be considered perfectly durable goods because they should theoretically never wear out. Highly durable goods such as refrigerators or cars usually continue to be useful for three or more years of use, so durable goods are typically characterized by long periods between successive purchases.