Question

"All consumption goods are durable in nature." Defend or refute the given statement with a valid argument.

Hint:

Consumption goods are classified into durable and non-durable goods. Non-durable goods provide utility for a shorter period and are often replaced more frequently than durable goods.

Answer 1

The assertion "All consumption goods are durable in nature" is incorrect.
- Durable Goods:
These items possess extended lifespans and can be utilized repeatedly over extended durations, including vehicles, appliances, and furnishings.
- Non-Durable Goods: These goods are consumed immediately or within a brief timeframe, being depleted after a single or limited number of uses, such as food, beverages, and personal care items. Although durable goods constitute a portion of consumption, a significant number of consumption goods are non-durable. For example, purchases of groceries or apparel are typically consumed or used up quickly.
Consequently, the proposition that all consumption goods are durable is not true.