1. Home
  2. All Topics
  3. Durable Goods Defined

Durable Goods Defined



Durable Goods Defined

The goods which are not consumed or destroyed by using and lasts for long are called durable goods. Home appliances, types of machinery, cars all these falls under the category of durable goods. Generally, the consumer goods which lasts for 3 or more years are considered to be durable goods.

Foods, cosmetics, toiletries, cigarettes, beverages are all non-durable goods as those perish by using. Durables, on the other hand, an extended product life and you can use it for long without consuming the whole thing. Durable goods are not required to be purchased as frequently as the nondurables. It is better to spend the income in buying durable, capital and investment good as they retain their economic value for long. Increased expenditure on durables indicates a sustainable economic growth. The wealth of an individual is preserved by spending more on durables.

References for Durable Goods

https://www.investopedia.com/terms/d/durables.asp
https://en.wikipedia.org/wiki/Durable_good
https://investinganswers.com/financial-dictionary/economics/durable-goods-2323


Was this article helpful?

Related Articles

Leave a Comment