DURABLE GOOD Meaning and
Definition
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A durable good, as defined in economics, refers to a type of commodity that demonstrates a long lifespan or durability, and is typically utilized repeatedly before it loses its utility or becomes obsolete. This term applies to physical goods that are tangible and not readily consumed or "used up" with a single use. Durable goods are designed and manufactured to withstand wear and tear, lasting for an extended period.
They are distinguishable from non-durable goods, such as perishable items, which are intended for immediate consumption or typically have a short lifespan. Common examples of durable goods include automobiles, household appliances like refrigerators, washing machines, and televisions, furniture, and electronic devices like laptops and smartphones.
The purchase of durable goods is often considered an investment as they are generally more expensive and represent a more significant share of individuals' or businesses' budgets. Additionally, durable goods often possess a higher level of quality, providing long-lasting utility and functionality.
The demand for durable goods often fluctuates with changes in economic conditions, as consumer spending patterns are closely tied to available income and overall economic stability. As such, purchases of durable goods are often seen as indicators of consumer confidence and economic growth.
Common Misspellings for DURABLE GOOD
- surable good
- xurable good
- curable good
- furable good
- rurable good
- eurable good
- dyrable good
- dhrable good
- djrable good
- dirable good
- d8rable good
- d7rable good
- dueable good
- dudable good
- dufable good
- dutable good
- du5able good
- du4able good
- durzble good
- dursble good
Etymology of DURABLE GOOD
The term "durable good" originates from the combination of two words: "durable" and "good".
- "Durable" comes from the Latin word "durabilis", which means "able to last" or "enduring". It is derived from the verb "durare", meaning "to last" or "to endure". This Latin term eventually made its way into Middle English as "durable" with the same meaning.
- "Good" has its roots in the Old English word "gōd", which originally referred to something valuable or morally right. Over time, it evolved to encompass a wider range of meanings, including objects or products that are beneficial, useful, or favorable for various purposes.
When these two words are combined as "durable good", it refers to a product or item that is capable of lasting or enduring for an extended period.
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