CONSUMPTION GOODS Meaning and
Definition
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Consumption goods, also referred to as consumer goods, are products or items that are purchased by individuals or households to satisfy their personal needs and desires. These goods are typically intended for immediate or relatively short-term use and are consumed or utilized in the process.
Consumption goods can be broadly categorized into durable goods and non-durable goods. Durable goods are those that are designed to have a longer lifespan, often being used repeatedly over an extended period. Examples of durable consumption goods include appliances, furniture, vehicles, electronic devices, and other long-lasting items.
On the other hand, non-durable goods are consumed or used up relatively quickly and typically need to be replaced more frequently. These goods are often perishable or have a limited lifespan. Examples of non-durable consumption goods include food, beverages, toiletries, clothing, and other everyday items.
The consumption of goods plays a significant role in the economy, as it represents a substantial portion of overall spending and drives demand for products and services. Economists track consumption patterns and spending behavior to analyze consumer behavior, market trends, and overall economic growth.
In summary, consumption goods are products that individuals or households purchase and utilize to fulfill their personal needs and desires. They can be durable or non-durable and serve as essential components of both individual consumption and the broader economy.
Common Misspellings for CONSUMPTION GOODS
- xonsumption goods
- vonsumption goods
- fonsumption goods
- donsumption goods
- cinsumption goods
- cknsumption goods
- clnsumption goods
- cpnsumption goods
- c0nsumption goods
- c9nsumption goods
- cobsumption goods
- comsumption goods
- cojsumption goods
- cohsumption goods
- conaumption goods
- conzumption goods
- conxumption goods
- condumption goods
- coneumption goods
Etymology of CONSUMPTION GOODS
The word "consumption" derives from the Latin word "consumptio" which means "consumption" or "using up". "Consumptio" is the noun form of the verb "consumere" which translates to "to consume" or "to use up".
The word "goods" originates from Old English, specifically from the word "gōd", which referred to property, belongings, or possessions. Over time, "gōd" evolved into "goods", which came to represent items or commodities that were owned or produced.
Therefore, the term "consumption goods" is a combination of the Latin word "consumptio" and the Old English word "goods", creating a phrase that describes items or products that are meant to be consumed or used up.
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