A consumer good that is used up within three years is a(n)
A) durable consumer good.
B) nondurable consumer good.
C) service.
D) investment.

Question

Quizplus · Accepted Answer

A nondurable consumer good is a product that is typically consumed or used up within a short period of time, usually less than three years. These products include things like food, personal care items, and household cleaning products. Durable consumer goods, on the other hand, are products that are expected to last for a longer period of time, such as appliances, electronics, and furniture. Services are intangible goods, such as healthcare or legal services, that are consumed but not used up. Investments are assets purchased with the goal of generating income or appreciating in value over time.

A Consumer Good That Is Used Up Within Three Years