Consumer Goods or Final Good is any commodity that is Produced or Consumed by the consumer to satisfy current wants or needs. Consumer Goods are ultimately consumed, rather than used in the production of another good.
Examples of Consumer Goods?
Common examples of consumer durable goods are automobiles, furniture, household appliances, and mobile homes. (See also capital.) Consumer nondurable goods are purchased for immediate or almost immediate consumption and have a life span ranging from minutes to three years.
Four Types of Consumer Goods?
Thus, the types of consumer products differ in the way consumers buy them and, for that reason, in the way they should be marketed.
Among the four types of consumer products, the convenience product is bought most frequently.
Consumer Goods and Producer Goods?
Answer: Consumer goods are those goods which are consumed directly by the consumer after it’s purchase. Whereas producer goods are those goods which are used by producers as raw material and which further undergo certain processes in order to make a final or consumer good.
Are Houses Consumer Goods?
Consumer goods are used by consumers and have no future productive use. Capital goods include items like buildings, machinery, and tools. Examples of consumer goods include food, appliances, clothing, and automobiles.
Difference Between Consumer and Producer?
Producers are those which produce their own food through photosynthesis by using inorganic materials.while consumers are those which eat the food produced by the producers directly or indirectly. ex is the grass is the producer and the cow is the consumer.