consumer goods

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consumer goods

or

consumption goods

goods that satisfy immediate personal needs rather than goods used in the production of other goods and of services.

Consumer Goods

 

products of labor destined for nonproduction uses, primarily personal consumption. Consumer goods are material goods used by the population to satisfy its needs. They include food products, clothing and footwear, housing, and the fuel, lighting, water, gas, and electricity used for domestic needs. They also include furniture and household articles, books and magazines, home entertainment equipment, sporting goods, toiletries, and medicines. All material goods used by establishments in the service sphere, including buildings and structures, are consumer goods; the same is true of those sectors that satisfy social needs in administration, science, and defense.

Many products of labor can have either nonproduction or production uses. Thus, flour used at a bread-baking plant, sugar used in making confectionery, and fruits for canning function as means of production.

Services are a special category of consumer goods.

V. F. MAIER

References in periodicals archive ?
It is straightforward to show that our model possesses a unique interior steady state at which the fraction of factor inputs allocated to producing consumption goods is
Grimaud and Tournemaine (2007) present a quite innovative setup to study the interactions between environmental policy and growth in which human capital is considered a consumption good, firms compete 'a la Cournot' and simultaneously perform R&D and sell the differentiated good.
Producer Price Index (PPI) for personal consumption goods and Consumer Price Index (CPI) for commodities, January 2010-June 2012 Month and PPI for personal CPI for commodities year consumption goods Jan 2010 100.
Let p denote the price of the consumption good, q the price of the capital good, and w the wage.
Particularly, a monetary loosening leads households to consume less housing and more consumption goods, and a monetary tightening does the opposite.
Next, a shopper prefers to use cash to purchase consumption goods in more markets, although the nominal interest rate increases.
We find that there is substantial heterogeneity in prices paid across households for identical consumption goods in the same metropolitan area at a given point in time.
Optimal consumption of housing and nondurable consumption goods is such that the marginal rate of substitution between the two commodities is equated with their relative price,
The gap between the growth in product wages and consumption wages reflects changes in labour's terms of trade, the price of output relative to price of consumption goods.
He emphasised the government's effort and support to provide all consumption goods including building materials to meet market needs and avoid shortages.
The reason for this is that the consumption taxes are typically paid using the same means of payment as that used to purchase the consumption goods.
Of leading indicators, inventories of consumption goods and of industrial production goods showed positive readings for the second and fourth straight months respectively.