CONSUMER DURABLES Meaning and
Definition
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Consumer durables, also known as durable goods or hard goods, refer to tangible goods that are intended to be used for an extended period of time (typically over three years) by consumers. These are products that are purchased by individuals or households and are not intended for immediate consumption or resale. Instead, they are designed to provide utility and satisfy specific needs over a prolonged period.
Consumer durables encompass a wide range of items, including appliances (e.g., refrigerators, washing machines), electronic devices (e.g., televisions, smartphones), furniture, vehicles, home improvement tools, and other long-lasting goods that enhance the daily lives of consumers. These goods are distinguished from non-durable consumer goods, also known as soft goods, which are used up or worn out in a relatively short time, such as food, beverages, clothing, or personal care products.
The purchase of consumer durables is often considered an investment, as they are expected to provide long-term value, functionality, and durability. Consumers typically evaluate multiple factors before purchasing durable goods, including quality, brand reputation, features, price, warranties, and the estimated lifespan of the product.
The demand for consumer durables is generally influenced by various factors, such as economic conditions, consumer confidence, disposable income, interest rates, technological advancements, and demographic trends. Additionally, consumer durables are an essential component of measuring household consumption, a significant indicator of economic growth and overall market activity.
Common Misspellings for CONSUMER DURABLES
- xonsumer durables
- vonsumer durables
- fonsumer durables
- donsumer durables
- cinsumer durables
- cknsumer durables
- clnsumer durables
- cpnsumer durables
- c0nsumer durables
- c9nsumer durables
- cobsumer durables
- comsumer durables
- cojsumer durables
- cohsumer durables
- conaumer durables
- conzumer durables
- conxumer durables
- condumer durables
- coneumer durables
Etymology of CONSUMER DURABLES
The term "consumer durables" is a combination of two words: "consumer" and "durables".
- "Consumer" comes from the Latin word "consumere", which means "to use up" or "to devour". In English, it refers to an individual who purchases goods or services for personal use or consumption.
- "Durables" is derived from the Latin word "durabilis", meaning "able to last" or "endure". In the context of consumer goods, it refers to products that are designed to have a long lifespan and can withstand repeated use or wear.
Therefore, the term "consumer durables" refers to goods or products that are purchased by individuals for personal use and are intended to last for a significant period of time.
Similar spelling words for CONSUMER DURABLES
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