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Final good. A final good or consumer good is a final product ready for sale that is used by the consumer to satisfy current wants or needs, unlike an intermediate good, which is used to produce other goods. A microwave oven or a bicycle is a final good. When used in measures of national income and output, the term "final goods" includes only ...
Consumer. A consumer is a person or a group who intends to order, or use purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. The term most commonly refers to a person who purchases goods and services for personal use.
In economics, a durable good or a hard good or consumer durable is a good that does not quickly wear out or, more specifically, one that yields utility over time rather than being completely consumed in one use. Items like bricks could be considered perfectly durable goods because they should theoretically never wear out.
In economics, a public good (also referred to as a social good or collective good) [ 1] is a good that is both non-excludable and non-rivalrous. Use by one person neither prevents access by other people, nor does it reduce availability to others. [ 1] Therefore, the good can be used simultaneously by more than one person. [ 2]
Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer 's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub ...
Consumer spending is the total money spent on final goods and services by individuals and households. [ 1] There are two components of consumer spending: induced consumption (which is affected by the level of income) and autonomous consumption (which is not).
Consumer economics is a branch of economics. It is a broad field, principally concerned with microeconomic analysis behavior in units of consumers, families, or individuals (in contrast to traditional economics, which primarily studies government or business units). It sometimes also encompasses family financial planning and policy analysis.
Fast-moving consumer goods. Soft drinks are FMCGs. Fast-moving consumer goods ( FMCG ), also known as consumer packaged goods ( CPG ), are products that are sold quickly and at a relatively low cost. Examples include non-durable household goods such as packaged foods, beverages, toiletries, candies, cosmetics, over-the-counter drugs, dry goods ...