Comforts lies between thea)inferior goods and necessariesb)luxuries an...
Comfort Goods and Their Classification
Introduction
Goods can be classified into various categories depending on the level of necessity or luxury they offer. Comfort goods are one such category of goods that lies between necessaries and luxuries. In this article, we will discuss comfort goods and their classification.
What are Comfort Goods?
Comfort goods are those goods that provide a certain level of comfort or pleasure to the consumer, but are not considered a necessity for survival. They are goods that people can live without, but choose to buy because they enhance their quality of life. Some common examples of comfort goods include items such as air conditioners, cars, televisions, and smartphones.
Classification of Goods
Goods can be classified into various categories based on their level of necessity or luxury. The three main categories of goods are necessaries, comfort goods, and luxuries.
Necessaries
Necessaries are goods that are essential for survival and basic needs. They include items such as food, clothing, shelter, and medical care.
Comfort Goods
Comfort goods lie between necessaries and luxuries. They are goods that provide a certain level of comfort or pleasure but are not considered essential for survival. Some common examples of comfort goods include air conditioners, cars, televisions, and smartphones.
Luxuries
Luxuries are goods that are not necessary for survival and are considered as indulgences. Examples of luxuries include expensive jewelry, high-end cars, private jets, and yachts.
Conclusion
Comfort goods are an important category of goods that provide a certain level of comfort or pleasure to the consumer, but are not considered a necessity for survival. They are goods that people can live without, but choose to buy because they enhance their quality of life. Comfort goods lie between necessaries and luxuries, and their classification helps in better understanding consumer behavior and preferences.
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