Which of the following is an example of non-durable goods?
Toiletries
Non-Durable Goods: Understanding the Concept
To identify an example of non-durable goods, it's essential to understand the difference between durable and non-durable goods. These categories help classify consumer products based on how long they are expected to last or be used.
Goods Classification: Durable vs. Non-Durable
- Durable Goods: These are consumer goods that typically have a long lifespan, often expected to last for three years or more. They are characterized by infrequent purchases and high cost. Examples include large appliances, vehicles, furniture, and electronics.
- Non-Durable Goods: In contrast, non-durable goods are consumed in a short period, usually less than three years. They are often used up quickly, have a short shelf life, or are purchased frequently. These items tend to be lower in cost per unit.
Analyzing the Options for Non-Durable Goods
Let's examine each option to determine which one fits the description of non-durable goods:
| Option | Description | Classification |
|---|---|---|
| Automobiles | Cars are significant investments designed to last for many years (typically well over three years) with regular maintenance. | Durable Goods |
| Toiletries | Toiletries include items like soap, shampoo, toothpaste, and deodorant. These products are consumed quickly, have a limited lifespan, and are purchased frequently. | Non-Durable Goods |
| Household appliances | Appliances such as refrigerators, washing machines, and ovens are built to last for several years, typically exceeding the three-year threshold for durable goods. | Durable Goods |
| Two-wheelers | Motorcycles and scooters are like smaller vehicles, intended for long-term use, similar to automobiles, and are expected to last for multiple years. | Durable Goods |
Identifying Non-Durable Goods Examples
Based on the analysis, toiletries are items that are consumed or used up relatively quickly and frequently. They do not have a long lifespan like vehicles or major household appliances. Therefore, toiletries are a clear example of non-durable goods.
Important Questions from Production Function
For the following two statements of Assertion (A) and Reasoning (R) suggest the correct code:
Assertion (A): Low initial price regarded as the principal means for entering into mass market for some new products.
Reasoning (R): Firms generally enter into production of new products with excess capacity of the plant initially.
Code:
Indicate the correct code from the following types of the long run average cost curves on which the minimum average cost of production in long run can be determined:
(i) Long run average cost curve under normal production function
(ii) Long run average cost curve under linearly homogeneous production function
(iii) Planning curve
(iv) Envelope curve
Choose the correct answer from the code given below :
Which of the following is not an attribute of production function?
What is constant along an isoquant?
During the first stage of a total product curve, the total product is ______
