What is Consumer Goods?

Question

Define the Consumer Goods? Or What is Meant by Consumer Goods? And Classification of Consumer Goods?

Answer 1

Consumer Goods (also called Consumption goods) are those goods which are directly used for the satisfaction of human wants. These are not used in the production of other goods.

Example: Ice cream and milk used by the households. Consumer goods are menat for final consumption and as final goods, these are ready for use by their final users.

Consumer Goods are broadly classified into four categories, as under:-

(1) Durable Consumer Goods: durable consumer goods are those goods which can be used for several year and are of relatively high value. These goods are repeatedly used before being discarded as useless. T.V., Radio, Scooter, car, Washing Machine are some example of Durable Consumer Goods.

(2) Semi-Durable Consumer Goods: Semi-durable Consumer Goods are those goods which can be used for a period of one year or slightly more. These are not of very high value. 

Clothes, furniture,crockery, electric goods, etc are the example of Semi-Durable Consumer Goods.

(3) Non-durable or Single use Consumer Goods: Non-durable or single-use consumer goods are those goods which are used up in a single act of Consumption. for example the bread that you eat in used of in single act of Consumption. The same bread cannot be used again. Also these Goods are relatively low value.

Ink, domestic LPG, milk and petrol are some other examples of Non-durable or Single use Consumer Goods.

(4) Services: Services are those non- material goods which directly satisfy a Human wants a few example of services are the services of a doctor, lawyer, domestic servan,etc.