What are consumer goods?

The definition of consumer goods are those final goods in the production process of a economía. They are designed to directly meet the needs of people.

There are several classes of economic goods depending on the role they play:

  • Capital goods: used to produce other goods.
  • Intermediate goods: through its transformation other goods are obtained.
  • Consumer goods: they are designed to solve the needs of a consumer in a very short period of time.

Types of consumer goods

Consumer goods can be structured in different ways, either by the time of use or by the degree of completion of the goods.

Consumer goods according to the time of their use

  • Durable goods: their use lasts over time, taking a long time to run out. Among them are machinery, utensils, appliances, etc.
  • Non-durable goods: their main characteristics are that they run out or run out in a very short period of time, as can toothpaste.
  • Perishable goods: this category includes, for example, food. They could also be included among the non-durable as they are useful for a very short time.

Consumer goods according to the degree of completion of the goods

  • Final goods: are those goods that are intended to be used by the final consumer and thus satisfy a demand. An example of this can be a chair or a pen. Within this section it is necessary to differentiate between substitute goods, which are articles that can be substituted by others that satisfy the same need (tea and coffee); and complementary goods, which are used in conjunction with another and when the price of one of them rises, the demand falls and vice versa. (car and gasoline).
  • Intermediate goods: they are manufactured with the purpose of being used in another productive process for the realization of a final good. One option is wood for tables and furniture.

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