Durable goods:These goods last for a long time, typically more than three years. Examples of durable goods include cars, furniture, and appliances.
Nondurable goods:These goods have a shorter lifespan, typically less than three years. Examples of nondurable goods include food, clothing, and cleaning supplies.
Services:These goods are intangible products or actions that are typically produced and consumed simultaneously. Examples of services include haircuts, auto repairs, and landscaping.
