Question

Explain durable and nondurable goods. Give an example of each. (100 words)

Answer 1

• Durable goods are those goods that do not wear out easily and can be used for a very long time.
• This means that it's utility remains intact even after many years until a consumer wishes to use it and can later be resold by them.
• Such goods can be consumed over and over again rather than consuming it in one single use and hence they are termed as hard goods.
• Example of durable goods include television, washing machine, cars etc.
• Non durable goods are those goods that cannot be reused as they easily wear out.
• That is, their utility remains intact only for a very short period of time and hence can be used only for limited number of times.
• Hence these goods are also termed as soft goods.
• For example :- cosmetic products, medicines, shampoo etc.