(engineering) Products whose usefulness continues for a number of years and that are not consumed or destroyed in a single usage. Also known as durables; hard goods.
Durable good
| Sci-Tech Dictionary: durable goods |
(¦du̇r·ə·bəl ′gu̇dz)
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| Financial & Investment Dictionary: Durable Goods |
Goods that have a useful life of more than three years. Orders for durable goods, which are tracked by the Commerce Department on a monthly basis, indicate the extent to which businesses and manufacturers are willing to invest capital for future needs Several months of increases in durable goods orders are a sign of a strong economy, and vice versa. The term hard goods is sometimes used synonymously, but more properly refers to durable consumer goods, such as appliances, as opposed to soft goods, which are consumer nondurables, such as textiles. The official economic opposite of durable goods is nondurable goods, which includes food, fuel, cosmetics, drugs, clothing, and services.
| Marketing Dictionary: durable goods |
Long-lasting merchandise such as televisions, appliances, hardware, furniture, or recording equipment; also called hard goods. See also soft goods.
| Economics Dictionary: durable goods |
Manufactured products capable of long utility, such as refrigerators and automobiles.
| Wikipedia: Durable good |
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In economics, a durable good or a hard good is a good which does not quickly wear out, or more specifically, it yields services or utility over time rather than being completely used up when used once. Most goods are therefore durable goods to a certain degree. These are goods that can last for a relatively long time, such as refrigerators, cars, and DVD players.[1] Perfectly durable goods never wear out. An example of a durable good might be a brick. As a counter-example, sticky tape is not very durable.
Examples of consumer durable goods include cars, appliances, business equipment, electronic equipment, home furnishings and fixtures, houseware and accessories, photographic equipment, recreational goods, sporting goods, toys and games.
Durable goods are typically characterized by long interpurchase times--the time between two successive purchases.
Nondurable goods or soft goods (consumables) are the opposite of durable goods. They may be defined either as goods that are used up when used once, or that have a lifespan of less than 3 years.
Examples of nondurable goods include FMCGs such as cosmetics and cleaning products, food, fuel, office supplies, packaging and containers, paper and paper products, personal products, rubber, plastics, textiles, clothing and footwear.
Durable goods, nondurable goods and services together constitute the consumption of an economy.
See also
References
- ^ Sullivan, arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp. 302. ISBN 0-13-063085-3. http://www.pearsonschool.com/index.cfm?locator=PSZ3R9&PMDbSiteId=2781&PMDbSolutionId=6724&PMDbCategoryId=&PMDbProgramId=12881&level=4.
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