Consumer Goods

Chris Walton, Aayushree Dhakal,  Brandee Robertson

Define Consumer Goods

Consumer Goods are goods  bought and used by consumers, rather than by manufacturers for producing other goods.

Brandee Robertson

Explain the three types of consumer goods: durable goods, non-durable goods, and services

Durable goods : Durable good is a good that does not quickly wear out, one that yields utility over time rather than being completely consumed in one use. Items such as bricks could be completely durable good because they will never wear out. Some example of daily usable durable goods are : cars, washing machine, ovens, refrigerators. some examples of durable goods  that are not daily useful are : granite and  hammer. Aayushree dhakal

Non- durable : A good which is immediately used by a consumer or which has an expected lifespan of three years or less. Many office supplies such as pens and inks are non durable goods. Though non-durable goods have less lifespan, many of them are very usefull and essential for surviving. Food and clothing are major examples of non- durable goods. Gasoline and plants are also examples of non- durable goods. Aayushree Dhakal

Services: Service is the action of helping or doing work for someone. Service is an important part in the field of consumer goods. Consumer  Intangible products provided for costumers such as transportation and food services. They can't be touched. Health services and housing service are some example.

Chris Walton

How do Consumer Goods Impact the Economy

Consumer goods impact the economy by providing everyday wants and needs to the people in the community, and by consuming and producing these goods the economy will become a lot stronger.

Brandee Robertson

Examples of diffrent goods in the Local Marketplace

Durable goods are goods like clothes and tools, non durable goods are goods like food and other goods that can be used only once, services are products that are performed in exchanged for money.

Chris Walton

The Importance of Consumer Goods

The measurement of consumer goods sales is important in the assessment of gross domestic product and in determining the health of the overall economy. They also helps to lift a  company's gross sales. Consumer gives feedback on the basis of the good they get. This gives a clear vision of the product that the company sold out.

Aayushree Dhakal

Analysis and Summary of the Following Article

The article talked about how many people thought that consumer goods such as soap and toilet paper were recession proof, but recently many companies such as Kleenex and bounty's sales have gone down recently with the most being 18% by P&G.

Chris Walton

Works Cited

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