Question

“All consumption goods are durable in nature.”

Defend or refute the given statement with the help of a suitable example.

Answer 1

The statement “All consumption goods are durable in nature” is incorrect, as consumption goods can be both durable and non-durable.

Explanation:

Consumption goods are classified into durable and non-durable goods. Durable goods are those that provide utility over a long period, such as cars, furniture, and electronics. Non-durable goods, on the other hand, are used up quickly, such as food, clothing, and toiletries.

Example to refute the statement:

1. Durable Consumption Goods: These goods have a long life and can be used multiple times.
   Example: Cars, furniture, televisions.
2. Non-Durable Consumption Goods: These goods are consumed quickly and cannot be reused.
   Example: Food, milk, paper, medicines.