Question

“All consumption goods are durable in nature.”
Defend or refute the given statement with the help of a suitable example.

Hint:

All consumption goods are not durable; some are used immediately like milk or food.

Answer 1

The assertion is false. Not all consumption goods are durable. Consumption goods are categorized into two types:
Durable Consumption Goods: These endure for an extended period and can be utilized multiple times (e.g., cars, televisions).
Non-Durable Consumption Goods: These are fully consumed in a single use (e.g., milk, food, fuel).

Therefore, consumption goods can be either durable or non-durable.