Durable Goods:
- Durable goods are products that have a long lifespan and are used over an extended period of time.
- These goods are tangible and can withstand repeated use or consumption.
- Examples of durable goods include appliances, furniture, vehicles, electronics, and machinery.
- Durable goods are typically more expensive and are meant to last for several years.
- They are often considered investments as they provide long-term value to the consumer.
- Durable goods can be used for personal or business purposes.
- They are typically purchased less frequently compared to non-durable goods.
- Durable goods contribute to the economy by generating revenue and creating jobs in manufacturing and related industries.
Example of Durable Goods:
- Fan: A fan is a durable good as it is a mechanical appliance that is designed to provide cooling and air circulation. It is built to last for several years and can be used repeatedly.
- Other examples of durable goods include refrigerators, washing machines, cars, laptops, and power tools.
Conclusion:
Durable goods are long-lasting products that provide value over an extended period of time. Examples of durable goods include fans, appliances, vehicles, and electronics. These goods are built to withstand repeated use and contribute to the economy by generating revenue and creating jobs.