ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Consumer goods are products bought for consumption by the average consumer. Also called final goods, consumer goods are the end result of production and manufacturing. Clothing, food products, and dishwashers are examples of common consumer goods.

Detailed explanation-2: -Consumer goods are divided into three categories: durable goods, nondurable goods, and services.

Detailed explanation-3: -Consumption goods are regarded as those goods that are most suited for final consumption. In other words, the end user of consumer goods is the consumer itself while the capital goods are those goods that are used for production of consumption goods.

Detailed explanation-4: -consumer good, in economics, any tangible commodity produced and subsequently purchased to satisfy the current wants and perceived needs of the buyer. Consumer goods are divided into three categories: durable goods, nondurable goods, and services.

Detailed explanation-5: -Convenience goods. Shopping goods. Unsought goods. Specialty goods.