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Consumer Durables - Domestic Appliances

Any commodity which is produced and subsequently consumed by the consumer, to satisfy its current wants or needs, is a consumer good. Consumer goods are goods that are ultimately consumed rather than used in the production of another good. Consumer durable goods usually have a significant life span which tends to be a minimum of 1 or 2 year based on guarantee or warranty period and maximum life depends upon the durability of the product or good. Whereas for capital goods which are tangible in nature, such as machinery or building or any other equipment which can be used in manufacturing of final product, these are durable goods with limited life span determined by its manufacturer before selling