ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Consumer nondurable goods are purchased for immediate or almost immediate consumption and have a life span ranging from minutes to three years. Common examples of these are food, beverages, clothing, shoes, and gasoline.

Detailed explanation-2: -Home appliances, types of machinery, cars all fall under the category of durable goods. Generally, consumer goods which last for 3 or more years are considered to be durable goods. Foods, cosmetics, toiletries, cigarettes, beverages are all non-durable goods as those that perish with use.

Detailed explanation-3: -Durable goods are consumer goods that have a life span of over three years and are used repeatedly over time. Bicycles and refrigerators are considered durable goods. Nondurable goods are consumed in less than three years, are commonly used one time and include packaged food and drinks or laundry detergent.

Detailed explanation-4: -Examples of consumer durables include appliances such as washers, dryers, refrigerators, and air conditioners; tools; computers, televisions, and other electronics; jewelry; cars and trucks; and home and office furnishings.