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Durable good
From Wikipedia, the free encyclopedia
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. Perfectly durable goods never wear out. As an example, a rubber band is not very durable.
Examples of 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 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 cosmetics, food, cleaning products, office supplies, packaging and containers, paper and paper products, personal products, rubber, plastics, textiles, clothing, footwear and most services.
Durable goods, nondurable goods and services together constitute the consumption of an economy.
| Types of goods
public good - private good - common good - common-pool resource - club good - anti-rival goods (non-)durable good - intermediate good (producer good) - final good - consumer good - capital good |
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