defination of consumer goods
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Consumer good, in economics, any tangible commodity produced and subsequently purchased to satisfy the current wants and perceived needs of the buyer. Consumer goods are divided into three categories: durable goods, nondurable goods, and services. Consumer good. Consumer.
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A final goods or consumer goods is a commodity that is used by the consumer to satisfy current wants or needs, rather than to produce another goods. A microwave oven or a bicycle is a final goods, whereas the parts purchased to manufacture it are intermediate goods.
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