Definition, Meaning & Synonyms
durable goods
noun
ˈdʊrəbl ɡʊdz
Definition
Goods that are not consumed or destroyed immediately and have a long lifespan, typically lasting three years or more.
Examples
- Refrigerators and washing machines are examples of durable goods.
- Consumers tend to spend less on durable goods during economic downturns.
- A car is considered a durable good because it is used over several years.
Meaning
Durable goods are items that can withstand wear and last over time, providing value beyond just a single use.
Synonyms
- Long-lasting items
- Durable products
- Hard goods
