What are consumer goods in economics?

Consumer good, in economics, any tangible commodity produced and subsequently purchased to satisfy the current wants and perceived needs of the buyer. Consumer goods are divided into three categories: durable goods, nondurable goods, and services. Learn more about consumer goods in this article.

What are consumption goods?

Consumption goods, also known as consumer goods, are products and services that are purchased and consumed by individuals to satisfy their current wants and needs. Unlike capital goods, which are used to produce other goods, consumption goods are final products that directly fulfill consumer demand.

What is the difference between consumption goods and capital goods?

Consumption goods are intended for immediate use by consumers to fulfill their wants and needs, whereas capital goods are used in the production of other goods or services. Capital goods include machinery, tools, and buildings, and are not intended for direct consumption. Can a good be both a consumption good and a capital good?