Answer to Question #180970 in Management for Shaun

Question

Q.1.2 In your own words, compare the three types of purchases with an original example for each to support your comparison.  

Answer 1

There are three main types of consumer goods: durable goods, nondurable goods, and services. Durable goods are consumer goods that have a long-life span (e.g. 3+ years) and are used over time. Examples include bicycles and refrigerators. Nondurable goods are consumed in less than three years and have short lifespans.