What are the difference between Durable Goods and Nondurable Goods?
There is clear cut differences between the durable and nondurable goods. Durable products have a shelf life of three years or more. while the nondurable goods have a shelf life of less than one year. Fast-moving consumer goods are the largest sector of consumer goods. They fall into the category of non-durable, as they are consumed immediately and have a short shelf life.
Therefore, nondurable goods are consumed over a short period of time. On the other hand, durable goods are consumer products that are not consumed or that yield utility over long periods of time (considered to be over three years).
Nondurable goods are any consumer goods in an economy that are either consumed in one use or used up over a short period of time (considered by the United States Bureau of Economic Analysis to be within three years) and must be bought again in successive purchases.
Nondurable goods are also called soft goods or consumable goods. Some examples of nondurable goods include:
- Food
- Laundry detergent
- Dish soap
- Light bulbs
- Paper products like paper plates
- Clothing
Nondurable goods are the opposite of durable goods. Hence, nondurable goods are those which are not consumed or that yield utility over long periods of time (considered to be over three years).
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