Consumer

Colby Maske

Meaning

a person who purchases goods and services for personal use.

http://www.youtube.com/watch?v=eBse-IYLF_o

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Good

Good, in economics, any tangible commodity produced and subsequently purchased to satisfy the current wants and perceived needs of the buyer. Consumer goods are divided into three categories: durable goods, non-durable goods, and services.

http://www.youtube.com/watch?v=RYc5Lvae11I

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Durable Goods

Consumer durable goods have a significant life span, often three years or more. The consumption of a durable good is spread over its life span, which tends to create demand for a series of maintenance services.

Common examples of consumer durable goods are automobiles, furniture, household appliances, and mobile homes.

http://www.youtube.com/watch?v=stXeXK_6ojM

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Non-Durable Goods

Immediate or almost immediate consumption and have a life span ranging from minutes to three years.

Common examples of these are food, beverages, clothing, shoes, and gasoline.

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Service

Intangible products or actions that are typically produced and consumed simultaneously.

Common examples of consumer services are haircuts, auto repairs, and landscaping.

http://www.youtube.com/watch?v=OmxGiDQVfUQ

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