Question

Distinguish between a durable consumer good and a nondurable consumer good.

Durable consumer goods have an expected life of __________ and non-durable consumer goods have an expected life of ____________.


a. three years or longer
b. two years or longer
c. between three and five years
d. more than three years
e. less than three years
f. less than two years

Answer 1

Durable consumer goods have an expected life of three years or longer, while nondurable consumer goods have an expected life of less than three years.

Step-by-step explanation:

Durable consumer goods are items that have an expected lifespan of three years or longer due to their ability to withstand wear and tear. Examples include automobiles, refrigerators, and furniture. In contrast, nondurable consumer goods are products that typically have a short-term use and are expected to last for less than three years. These include items such as groceries, paper products, and gasoline. The distinction between durable and nondurable goods is significant because it affects consumption patterns, manufacturing processes, and the broader economy.