CONSUMER GOODS Meaning and
Definition
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Consumer goods are tangible items or products that are purchased by individuals or households for their personal use and satisfaction. These goods are generally intended for private consumption instead of being used for production or investment purposes.
Consumer goods can encompass a wide range of products, including both durable and non-durable goods. Durable consumer goods refer to items that have a longer lifespan and can be used repeatedly over a significant period of time. Examples of durable goods include automobiles, electronic devices like televisions or refrigerators, furniture, and appliances like washing machines or vacuum cleaners.
On the other hand, non-durable consumer goods are items that are meant to be consumed or used up quickly, usually within a short period of time. These products are often replenished or repurchased regularly. Examples of non-durable consumer goods include food and beverages, personal care products such as soaps or toothpaste, toiletries, clothing, and household cleaning supplies.
Consumer goods play a crucial role in meeting the everyday needs and desires of individuals and households. They are a vital component of the economy as they generate demand, drive production, and contribute to economic growth. The availability, quality, and affordability of consumer goods significantly influence consumer behavior, purchasing decisions, and overall consumer satisfaction.
Common Misspellings for CONSUMER GOODS
- xonsumer goods
- vonsumer goods
- fonsumer goods
- donsumer goods
- cinsumer goods
- cknsumer goods
- clnsumer goods
- cpnsumer goods
- c0nsumer goods
- c9nsumer goods
- cobsumer goods
- comsumer goods
- cojsumer goods
- cohsumer goods
- conaumer goods
- conzumer goods
- conxumer goods
- condumer goods
- coneumer goods
- consumergoods
Etymology of CONSUMER GOODS
The term "consumer goods" is a compound word consisting of two separate components: "consumer" and "goods".
The word "consumer" originates from the Latin verb "consumere", which means "to take up" or "to use". This Latin verb is derived from the prefix "con-" meaning "altogether" or "completely", and the root "sumere", which means "to take" or "to use". Over time, "consumere" evolved into the noun "consumptor", referring to someone who purchases and uses products or services.
The word "goods" has its origin in the Old English noun "gōd", which initially meant "property", "possession", or "wealth".
Similar spelling words for CONSUMER GOODS
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