Types of Goods

Question 1

What is a durable good?

Answer 1

• they are goods that last a long time, such as a car, computer or fridge.

Question 2

What is a non-durable good?

Answer 2

• these goods do not last a long time, such as newspaper.

Question 3

What are consumer goods?

Answer 3

• goods that are consumed by people to satisfy their needs and wants, such as food, CD’s and clothes.

Question 4

What are capital goods?

Answer 4

• goods that are consumed by a business so that they can provide their goods and services, such as robotics, vehicles and machines.